AIN vs VXZ: Correlation
How closely do Albany International Corporation (AIN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.43, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIN and VXZ?
On 3 years of weekly data the AIN/VXZ correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.29 versus -0.43 over 3 years. The 5-year figure is -0.46, and annualized covariance runs at -401.2 %².
VXZ is close to the least connected end of AIN's tracked universe, ranking #20 of 20. On 12-month performance AIN holds a 10.5-point edge, -5.6% against -16.1%.
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.
AIN vs VXZ: side by side
| AIN (Albany International Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.6% | -16.1% |
| 5-year return | -19.2% | -53.1% |
| Volatility (ann.) | 36.2% | 25.6% |
| Beta vs S&P 500 | 1.13 | -1.31 |
| Max drawdown (3Y) | -57.1% | -36.4% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.88% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIN | VXZ |
|---|---|---|
| 2022 | +12.6% | +0.5% |
| 2023 | +0.7% | -44.0% |
| 2024 | -17.6% | -12.7% |
| 2025 | -35.5% | +5.7% |
| 2026 | +17.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIN and VXZ good diversifiers for each other?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AIN and VXZ?
The AIN/VXZ correlation stands at -0.43 on a 3-year window (1 year: -0.29, 5 years: -0.46), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AIN?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.43 mean?
A reading of -0.43 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/ain-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ain-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIN correlations · VXZ correlations
