VXZ vs YARW: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Yarrow Bioscience, Inc. (YARW) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and YARW?
Across a 3-year window, the weekly returns of VXZ and YARW correlate at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.18 versus -0.32 over 3 years. Stretching to 5 years gives -0.29, with an annualized covariance of -808.7 %².
Within VXZ's tracked universe of 2840 assets, YARW comes in at #1190 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months YARW outperformed by 329.1 percentage points (-16.1% for VXZ against +313.0% for YARW). Note the risk asymmetry: YARW runs 3.9 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 YARW: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | YARW (Yarrow Bioscience, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +313.0% |
| 5-year return | -53.1% | -95.6% |
| Volatility (ann.) | 25.6% | 99.6% |
| Beta vs S&P 500 | -1.31 | 1.89 |
| Max drawdown (3Y) | -36.4% | -93.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | YARW |
|---|---|---|
| 2022 | +0.5% | -85.3% |
| 2023 | -44.0% | -13.7% |
| 2024 | -12.7% | +43.8% |
| 2025 | +5.7% | -82.7% |
| 2026 | -10.5% | +132.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and YARW good diversifiers for each other?
Yes. With a correlation of -0.32, VXZ and YARW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and YARW?
The VXZ/YARW correlation stands at -0.32 on a 3-year window (1 year: -0.18, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is YARW a good diversifier for VXZ?
Yes. With a correlation of -0.32, VXZ and YARW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: VXZ correlations · YARW correlations
