VXZ vs ZSTK: Correlation
iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and ZeroStack Corp. (ZSTK) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and ZSTK?
On 3 years of weekly data the VXZ/ZSTK correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.14 lands near the 3-year figure. The 5-year figure is -0.21, and annualized covariance runs at -754.7 %².
Among the 2840 assets we track against VXZ, ZSTK ranks #42 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 57.3 percentage points (-16.1% for VXZ against -73.4% for ZSTK). Note the risk asymmetry: ZSTK runs 6.0 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 ZSTK: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | ZSTK (ZeroStack Corp.) | |
|---|---|---|
| 1-year return | -16.1% | -73.4% |
| 5-year return | -53.1% | -99.9% |
| Volatility (ann.) | 25.6% | 153.8% |
| Beta vs S&P 500 | -1.31 | 2.10 |
| Max drawdown (3Y) | -36.4% | -99.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | ZSTK |
|---|---|---|
| 2022 | +0.5% | -87.2% |
| 2023 | -44.0% | -70.4% |
| 2024 | -12.7% | -23.7% |
| 2025 | +5.7% | -84.4% |
| 2026 | -10.5% | -6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and ZSTK good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXZ and ZSTK?
As of 2026-08-27, the correlation of weekly returns between VXZ and ZSTK is -0.19 over 3 years, -0.14 over 1 year and -0.21 over 5 years.
Is ZSTK a good diversifier for VXZ?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 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
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Related comparisons
Hubs: VXZ correlations · ZSTK correlations
