AFCG vs VXZ: Correlation
Advanced Flower Capital Inc. (AFCG) 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 -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFCG and VXZ?
On 3 years of weekly data the AFCG/VXZ correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.18) runs above the 3-year figure (-0.28). The 5-year figure is -0.35, and annualized covariance runs at -331.7 %².
VXZ is close to the least connected end of AFCG's tracked universe, ranking #8 of 10. Over the last 12 months VXZ came out ahead by 10.4 percentage points (-26.5% against -16.1%). One caveat on sizing: AFCG is 1.8 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.
AFCG vs VXZ: side by side
| AFCG (Advanced Flower Capital Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -26.5% | -16.1% |
| 5-year return | -55.2% | -53.1% |
| Volatility (ann.) | 45.5% | 25.6% |
| Beta vs S&P 500 | 1.01 | -1.31 |
| Max drawdown (3Y) | -76.9% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 7.25% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFCG | VXZ |
|---|---|---|
| 2022 | -21.2% | +0.5% |
| 2023 | -10.5% | -44.0% |
| 2024 | +18.7% | -12.7% |
| 2025 | -61.9% | +5.7% |
| 2026 | +25.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFCG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, AFCG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AFCG and VXZ?
The AFCG/VXZ correlation stands at -0.28 on a 3-year window (1 year: -0.18, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AFCG?
Yes. With a correlation of -0.28, AFCG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/afcg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afcg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AFCG correlations · VXZ correlations
