VXZ vs ZNTL: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Zentalis Pharmaceuticals, Inc. (ZNTL) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and ZNTL?
Over the past 3 years, VXZ and ZNTL moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -1060.6 %².
Among the 2840 assets we track against VXZ, ZNTL ranks #555 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ZNTL outperformed by 129.3 percentage points (-16.1% for VXZ against +113.2% for ZNTL). Risk is not evenly split, since ZNTL carries 6.2 times the volatility of the other side.
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 ZNTL: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | ZNTL (Zentalis Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +113.2% |
| 5-year return | -53.1% | -94.1% |
| Volatility (ann.) | 25.6% | 159.7% |
| Beta vs S&P 500 | -1.31 | 2.82 |
| Max drawdown (3Y) | -36.4% | -96.2% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | ZNTL |
|---|---|---|
| 2022 | +0.5% | -76.0% |
| 2023 | -44.0% | -24.8% |
| 2024 | -12.7% | -80.0% |
| 2025 | +5.7% | -55.4% |
| 2026 | -10.5% | +187.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and ZNTL good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and ZNTL?
The VXZ/ZNTL correlation stands at -0.26 on a 3-year window (1 year: -0.30, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is ZNTL a good diversifier for VXZ?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 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.
Use this data
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Related comparisons
Hubs: VXZ correlations · ZNTL correlations
