VXZ vs WY: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Weyerhaeuser (WY) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WY?
On 3 years of weekly data the VXZ/WY correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.25) runs above the 3-year figure (-0.38). The 5-year figure is -0.43, and annualized covariance runs at -240.0 %².
Among the 2840 assets we track against VXZ, WY ranks #1749 by 3-year correlation. The trailing year gives WY the advantage: -16.1% versus -6.1%, a 10.0-point spread.
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 WY: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WY (Weyerhaeuser) | |
|---|---|---|
| 1-year return | -16.1% | -6.1% |
| 5-year return | -53.1% | -19.5% |
| Volatility (ann.) | 25.6% | 24.8% |
| Beta vs S&P 500 | -1.31 | 0.64 |
| Max drawdown (3Y) | -36.4% | -38.0% |
| Market cap | – | $17.1B |
| P/E (trailing) | – | 36.5 |
| Dividend yield | – | 3.49% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | VXZ | WY |
|---|---|---|
| 2022 | +0.5% | -20.4% |
| 2023 | -44.0% | +18.0% |
| 2024 | -12.7% | -16.6% |
| 2025 | +5.7% | -13.0% |
| 2026 | -10.5% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WY good diversifiers for each other?
Yes. With a correlation of -0.38, VXZ and WY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and WY?
As of 2026-08-27, the correlation of weekly returns between VXZ and WY is -0.38 over 3 years, -0.25 over 1 year and -0.43 over 5 years.
Is WY a good diversifier for VXZ?
Yes. With a correlation of -0.38, VXZ and WY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
A reading of -0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxz-vs-wy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxz-vs-wy/)
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Related comparisons
Hubs: VXZ correlations · WY correlations
