ABCL vs VXZ: Correlation
AbCellera Biologics Inc. (ABCL) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABCL and VXZ?
Over the past 3 years, ABCL and VXZ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.25 over 3. Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -510.8 %².
Among the 17 assets we track against ABCL, VXZ sits near the bottom by co-movement, at rank #15. The last year tells two different stories: ABCL led by 201.2 percentage points, +185.1% for ABCL against -16.1% for VXZ. One caveat on sizing: ABCL is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABCL vs VXZ: side by side
| ABCL (AbCellera Biologics Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +185.1% | -16.1% |
| 5-year return | -28.5% | -53.1% |
| Volatility (ann.) | 80.2% | 25.6% |
| Beta vs S&P 500 | 1.75 | -1.31 |
| Max drawdown (3Y) | -67.7% | -36.4% |
| Market cap | $4.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABCL | VXZ |
|---|---|---|
| 2022 | -29.2% | +0.5% |
| 2023 | -43.6% | -44.0% |
| 2024 | -48.7% | -12.7% |
| 2025 | +16.7% | +5.7% |
| 2026 | +262.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABCL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.25, ABCL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ABCL and VXZ?
The ABCL/VXZ correlation stands at -0.25 on a 3-year window (1 year: -0.31, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ABCL?
Yes. With a correlation of -0.25, ABCL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/abcl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/abcl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ABCL correlations · VXZ correlations
