AD vs VXZ: Correlation
Array Digital Infrastructure, Inc. (AD) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AD and VXZ?
Across a 3-year window, the weekly returns of AD and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -281.0 %².
Out of 13 assets tracked against AD, VXZ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months AD outperformed by 15.8 percentage points (-0.3% for AD against -16.1% for VXZ). Risk is not evenly split, since AD carries 1.6 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.
AD vs VXZ: side by side
| AD (Array Digital Infrastructure, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.3% | -16.1% |
| 5-year return | +142.7% | -53.1% |
| Volatility (ann.) | 42.1% | 25.6% |
| Beta vs S&P 500 | 0.68 | -1.31 |
| Max drawdown (3Y) | -32.0% | -36.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | 4.6 | – |
| Dividend yield | 30.85% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AD | VXZ |
|---|---|---|
| 2022 | -33.9% | +0.5% |
| 2023 | +99.2% | -44.0% |
| 2024 | +51.0% | -12.7% |
| 2025 | +22.6% | +5.7% |
| 2026 | +1.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AD and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between AD and VXZ?
As of 2026-08-27, the correlation of weekly returns between AD and VXZ is -0.26 over 3 years, -0.21 over 1 year and -0.13 over 5 years.
Is VXZ a good diversifier for AD?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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/ad-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ad-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AD correlations · VXZ correlations
