VXZ vs XMTR: Correlation
iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Xometry, Inc. (XMTR) show a negative relationship: their 3-year correlation of weekly returns is -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and XMTR?
On 3 years of weekly data the VXZ/XMTR correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.39 over 3 years. The 5-year figure is -0.36, and annualized covariance runs at -831.9 %².
Within VXZ's tracked universe of 2840 assets, XMTR comes in at #1838 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XMTR outperformed by 119.0 percentage points (-16.1% for VXZ against +102.9% for XMTR). Note the risk asymmetry: XMTR runs 3.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 XMTR: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | XMTR (Xometry, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +102.9% |
| 5-year return | -53.1% | +31.7% |
| Volatility (ann.) | 25.6% | 83.8% |
| Beta vs S&P 500 | -1.31 | 2.60 |
| Max drawdown (3Y) | -36.4% | -70.4% |
| Market cap | – | $5.5B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | XMTR |
|---|---|---|
| 2022 | +0.5% | -37.1% |
| 2023 | -44.0% | +11.4% |
| 2024 | -12.7% | +18.8% |
| 2025 | +5.7% | +39.4% |
| 2026 | -10.5% | +61.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and XMTR good diversifiers for each other?
Yes. With a correlation of -0.39, VXZ and XMTR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and XMTR?
The VXZ/XMTR correlation stands at -0.39 on a 3-year window (1 year: -0.25, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is XMTR a good diversifier for VXZ?
Yes. With a correlation of -0.39, VXZ and XMTR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxz-vs-xmtr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxz-vs-xmtr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · XMTR correlations
