AI vs VXZ: Correlation
C3.ai, Inc. (AI) 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 -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AI and VXZ?
On 3 years of weekly data the AI/VXZ correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. The 5-year figure is -0.43, and annualized covariance runs at -653.0 %².
VXZ is close to the least connected end of AI's tracked universe, ranking #14 of 15. The last year tells two different stories: VXZ led by 24.2 percentage points, -40.3% for AI against -16.1% for VXZ. One caveat on sizing: AI is 2.6 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.
AI vs VXZ: side by side
| AI (C3.ai, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -40.3% | -16.1% |
| 5-year return | -79.8% | -53.1% |
| Volatility (ann.) | 65.5% | 25.6% |
| Beta vs S&P 500 | 2.09 | -1.31 |
| Max drawdown (3Y) | -81.9% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AI | VXZ |
|---|---|---|
| 2022 | -64.2% | +0.5% |
| 2023 | +156.6% | -44.0% |
| 2024 | +19.9% | -12.7% |
| 2025 | -60.8% | +5.7% |
| 2026 | -23.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between AI and VXZ?
The AI/VXZ correlation stands at -0.39 on a 3-year window (1 year: -0.32, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AI?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ai-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ai-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AI correlations · VXZ correlations
