AFYA vs VXZ: Correlation
Afya Limited - Class A (AFYA) 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 AFYA and VXZ?
On 3 years of weekly data the AFYA/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.19 lands near the 3-year figure. The 5-year figure is -0.28, and annualized covariance runs at -198.5 %².
VXZ is close to the least connected end of AFYA's tracked universe, ranking #10 of 10. The last year tells two different stories: AFYA led by 15.1 percentage points, -1.0% for AFYA 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.
AFYA vs VXZ: side by side
| AFYA (Afya Limited - Class A) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.0% | -16.1% |
| 5-year return | -27.6% | -53.1% |
| Volatility (ann.) | 30.2% | 25.6% |
| Beta vs S&P 500 | 0.56 | -1.31 |
| Max drawdown (3Y) | -40.4% | -36.4% |
| Market cap | $1.3B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 23.89% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFYA | VXZ |
|---|---|---|
| 2022 | -0.6% | +0.5% |
| 2023 | +40.4% | -44.0% |
| 2024 | -27.6% | -12.7% |
| 2025 | -1.7% | +5.7% |
| 2026 | -3.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFYA and VXZ good diversifiers for each other?
Yes. With a correlation of -0.26, AFYA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AFYA and VXZ?
The AFYA/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.19, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AFYA?
Yes. With a correlation of -0.26, AFYA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/afya-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afya-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AFYA correlations · VXZ correlations
