VXZ vs ZUMZ: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Zumiez Inc. (ZUMZ) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and ZUMZ?
Across a 3-year window, the weekly returns of VXZ and ZUMZ correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.36 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.32, with an annualized covariance of -385.2 %².
Among the 2840 assets we track against VXZ, ZUMZ ranks #970 by 3-year correlation. On 12-month performance ZUMZ holds a 12.8-point edge, -16.1% against -3.3%. Risk is not evenly split, since ZUMZ carries 2.0 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 ZUMZ: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | ZUMZ (Zumiez Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -3.3% |
| 5-year return | -53.1% | -57.5% |
| Volatility (ann.) | 25.6% | 50.2% |
| Beta vs S&P 500 | -1.31 | 1.20 |
| Max drawdown (3Y) | -36.4% | -60.2% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 24.5 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | ZUMZ |
|---|---|---|
| 2022 | +0.5% | -54.7% |
| 2023 | -44.0% | -6.4% |
| 2024 | -12.7% | -5.8% |
| 2025 | +5.7% | +35.9% |
| 2026 | -10.5% | -32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and ZUMZ good diversifiers for each other?
Yes. With a correlation of -0.30, VXZ and ZUMZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and ZUMZ?
The VXZ/ZUMZ correlation stands at -0.30 on a 3-year window (1 year: -0.36, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is ZUMZ a good diversifier for VXZ?
Yes. With a correlation of -0.30, VXZ and ZUMZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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 · ZUMZ correlations
