VXZ vs XPER: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Xperi Inc. (XPER) trade together? Their weekly returns over three years give a correlation of -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and XPER?
Over the past 3 years, VXZ and XPER moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.27 versus -0.40 over 3 years. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -442.9 %².
Among the 2840 assets we track against VXZ, XPER ranks #1923 by 3-year correlation. The last year tells two different stories: XPER led by 15.8 percentage points, -16.1% for VXZ against -0.3% for XPER. One caveat on sizing: XPER is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 XPER: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | XPER (Xperi Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -0.3% |
| 5-year return | -53.1% | n/a |
| Volatility (ann.) | 25.6% | 43.6% |
| Beta vs S&P 500 | -1.31 | 1.29 |
| Max drawdown (3Y) | -36.4% | -57.6% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | XPER |
|---|---|---|
| 2022 | +0.5% | – |
| 2023 | -44.0% | +28.0% |
| 2024 | -12.7% | -6.8% |
| 2025 | +5.7% | -42.9% |
| 2026 | -10.5% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and XPER good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXZ and XPER?
The VXZ/XPER correlation stands at -0.40 on a 3-year window (1 year: -0.27, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is XPER a good diversifier for VXZ?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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-xper.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxz-vs-xper/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXZ correlations · XPER correlations
