AAPL vs VXZ: Correlation
Apple Inc. (AAPL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAPL and VXZ?
Across a 3-year window, the weekly returns of AAPL and VXZ correlate at -0.38, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.20) than the 3-year average (-0.38). Stretching to 5 years gives -0.44, with an annualized covariance of -265.7 %².
VXZ is close to the least connected end of AAPL's tracked universe, ranking #30 of 32. The last year tells two different stories: AAPL led by 53.1 percentage points, +37.0% for AAPL 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.
AAPL vs VXZ: side by side
| AAPL (Apple Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +37.0% | -16.1% |
| 5-year return | +110.6% | -53.1% |
| Volatility (ann.) | 27.2% | 25.6% |
| Beta vs S&P 500 | 1.06 | -1.31 |
| Max drawdown (3Y) | -33.4% | -36.4% |
| Market cap | $4,591.0B | – |
| P/E (trailing) | 36.1 | – |
| Dividend yield | 0.33% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AAPL | VXZ |
|---|---|---|
| 2022 | -26.4% | +0.5% |
| 2023 | +49.0% | -44.0% |
| 2024 | +30.7% | -12.7% |
| 2025 | +9.1% | +5.7% |
| 2026 | +16.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAPL and VXZ good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AAPL and VXZ?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.20 over the last year and -0.44 over 5 years.
Is VXZ a good diversifier for AAPL?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
A reading of -0.38 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/aapl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aapl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AAPL correlations · VXZ correlations
