AAMI vs VXZ: Correlation
Measured on weekly returns over the past three years, Acadian Asset Management Inc. (AAMI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAMI and VXZ?
On 3 years of weekly data the AAMI/VXZ correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. The 5-year figure is -0.47, and annualized covariance runs at -402.7 %².
Out of 12 assets tracked against AAMI, VXZ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months AAMI outperformed by 109.0 percentage points (+92.9% for AAMI against -16.1% for VXZ).
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.
AAMI vs VXZ: side by side
| AAMI (Acadian Asset Management Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +92.9% | -16.1% |
| 5-year return | +260.9% | -53.1% |
| Volatility (ann.) | 33.4% | 25.6% |
| Beta vs S&P 500 | 1.30 | -1.31 |
| Max drawdown (3Y) | -26.5% | -36.4% |
| Market cap | $3.5B | – |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 0.32% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAMI | VXZ |
|---|---|---|
| 2022 | -19.4% | +0.5% |
| 2023 | -6.7% | -44.0% |
| 2024 | +37.7% | -12.7% |
| 2025 | +78.6% | +5.7% |
| 2026 | +107.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAMI and VXZ good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AAMI and VXZ?
As of 2026-08-27, the correlation of weekly returns between AAMI and VXZ is -0.47 over 3 years, -0.41 over 1 year and -0.47 over 5 years.
Is VXZ a good diversifier for AAMI?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aami-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aami-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AAMI correlations · VXZ correlations
