VXZ vs ZTS: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Zoetis (ZTS) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and ZTS?
On 3 years of weekly data the VXZ/ZTS correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.28 over 3. The 5-year figure is -0.33, and annualized covariance runs at -214.0 %².
Among the 2840 assets we track against VXZ, ZTS ranks #763 by 3-year correlation. The last year tells two different stories: VXZ led by 34.7 percentage points, -16.1% for VXZ against -50.8% for ZTS.
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 ZTS: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | ZTS (Zoetis) | |
|---|---|---|
| 1-year return | -16.1% | -50.8% |
| 5-year return | -53.1% | -61.5% |
| Volatility (ann.) | 25.6% | 30.1% |
| Beta vs S&P 500 | -1.31 | 0.51 |
| Max drawdown (3Y) | -36.4% | -63.0% |
| Market cap | – | $31.0B |
| P/E (trailing) | – | 12.7 |
| Dividend yield | – | 2.66% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | VXZ | ZTS |
|---|---|---|
| 2022 | +0.5% | -39.5% |
| 2023 | -44.0% | +35.9% |
| 2024 | -12.7% | -16.6% |
| 2025 | +5.7% | -21.8% |
| 2026 | -10.5% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and ZTS good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXZ and ZTS?
As of 2026-08-27, the correlation of weekly returns between VXZ and ZTS is -0.28 over 3 years, -0.23 over 1 year and -0.33 over 5 years.
Is ZTS a good diversifier for VXZ?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
A reading of -0.28 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
$ curl https://www.pairbook.io/api/v1/pairs/vxz-vs-zts.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-zts/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VXZ correlations · ZTS correlations
