VXZ vs WTFC: Correlation
iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Wintrust Financial Corporation (WTFC) show a negative relationship: their 3-year correlation of weekly returns is -0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WTFC?
On 3 years of weekly data the VXZ/WTFC correlation comes out at -0.60, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.42 versus -0.60 over 3 years. The 5-year figure is -0.57, and annualized covariance runs at -426.3 %².
By 3-year correlation, WTFC places #2760 of the 2840 assets tracked against VXZ. The last year tells two different stories: WTFC led by 28.8 percentage points, -16.1% for VXZ against +12.7% for WTFC.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
VXZ vs WTFC: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WTFC (Wintrust Financial Corporation) | |
|---|---|---|
| 1-year return | -16.1% | +12.7% |
| 5-year return | -53.1% | +127.7% |
| Volatility (ann.) | 25.6% | 27.6% |
| Beta vs S&P 500 | -1.31 | 1.06 |
| Max drawdown (3Y) | -36.4% | -31.0% |
| Market cap | – | $10.3B |
| P/E (trailing) | – | 12.3 |
| Dividend yield | – | 1.37% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WTFC |
|---|---|---|
| 2022 | +0.5% | -5.5% |
| 2023 | -44.0% | +12.0% |
| 2024 | -12.7% | +36.8% |
| 2025 | +5.7% | +13.9% |
| 2026 | -10.5% | +10.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WTFC good diversifiers for each other?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXZ and WTFC?
As of 2026-08-27, the correlation of weekly returns between VXZ and WTFC is -0.60 over 3 years, -0.42 over 1 year and -0.57 over 5 years.
Is WTFC a good diversifier for VXZ?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
What does a correlation of -0.60 mean?
On the −1 to +1 scale, -0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: VXZ correlations · WTFC correlations
