ADX vs VXZ: Correlation
Adams Diversified Equity Fund Inc. (ADX) 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 -0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADX and VXZ?
On 3 years of weekly data the ADX/VXZ correlation comes out at -0.64, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.44) runs above the 3-year figure (-0.64). The 5-year figure is -0.64, and annualized covariance runs at -254.9 %².
VXZ is close to the least connected end of ADX's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months ADX outperformed by 45.6 percentage points (+29.5% for ADX against -16.1% for VXZ). One caveat on sizing: VXZ is 1.6 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.
ADX vs VXZ: side by side
| ADX (Adams Diversified Equity Fund Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.5% | -16.1% |
| 5-year return | +88.9% | -53.1% |
| Volatility (ann.) | 15.7% | 25.6% |
| Beta vs S&P 500 | 0.96 | -1.31 |
| Max drawdown (3Y) | -18.3% | -36.4% |
| Market cap | $3.3B | – |
| P/E (trailing) | 5.3 | – |
| Dividend yield | 7.26% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADX | VXZ |
|---|---|---|
| 2022 | -19.8% | +0.5% |
| 2023 | +31.5% | -44.0% |
| 2024 | +28.3% | -12.7% |
| 2025 | +26.0% | +5.7% |
| 2026 | +18.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.64, ADX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ADX and VXZ?
The ADX/VXZ correlation stands at -0.64 on a 3-year window (1 year: -0.44, 5 years: -0.64), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ADX?
Yes. With a correlation of -0.64, ADX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.64 mean?
A reading of -0.64 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/adx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/adx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ADX correlations · VXZ correlations
