AGNC vs VXZ: Correlation
Measured on weekly returns over the past three years, AGNC Investment Corp. (AGNC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.51, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGNC and VXZ?
Across a 3-year window, the weekly returns of AGNC and VXZ correlate at -0.51, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.55) sits close to the 3-year figure. Stretching to 5 years gives -0.49, with an annualized covariance of -326.7 %².
VXZ is close to the least connected end of AGNC's tracked universe, ranking #14 of 14. The last year tells two different stories: AGNC led by 44.1 percentage points, +28.0% for AGNC 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.
AGNC vs VXZ: side by side
| AGNC (AGNC Investment Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.0% | -16.1% |
| 5-year return | +33.5% | -53.1% |
| Volatility (ann.) | 25.1% | 25.6% |
| Beta vs S&P 500 | 0.87 | -1.31 |
| Max drawdown (3Y) | -30.5% | -36.4% |
| Market cap | $13.0B | – |
| P/E (trailing) | 5.4 | – |
| Dividend yield | 13.32% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGNC | VXZ |
|---|---|---|
| 2022 | -21.7% | +0.5% |
| 2023 | +10.1% | -44.0% |
| 2024 | +8.9% | -12.7% |
| 2025 | +34.9% | +5.7% |
| 2026 | +10.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGNC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.51, AGNC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGNC and VXZ?
As of 2026-08-27, the correlation of weekly returns between AGNC and VXZ is -0.51 over 3 years, -0.55 over 1 year and -0.49 over 5 years.
Is VXZ a good diversifier for AGNC?
Yes. With a correlation of -0.51, AGNC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
A reading of -0.51 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/agnc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agnc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AGNC correlations · VXZ correlations
