AIOT vs VXZ: Correlation
Measured on weekly returns over the past three years, PowerFleet, Inc. (AIOT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIOT and VXZ?
Across a 3-year window, the weekly returns of AIOT and VXZ correlate at -0.47, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.46 over 1 year against -0.47 over 3. Stretching to 5 years gives -0.39, with an annualized covariance of -810.4 %².
Out of 14 assets tracked against AIOT, VXZ lands near the bottom at #14. The last year tells two different stories: VXZ led by 21.4 percentage points, -37.5% for AIOT against -16.1% for VXZ. Risk is not evenly split, since AIOT carries 2.6 times the volatility of the other side.
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.
AIOT vs VXZ: side by side
| AIOT (PowerFleet, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -37.5% | -16.1% |
| 5-year return | -57.4% | -53.1% |
| Volatility (ann.) | 67.2% | 25.6% |
| Beta vs S&P 500 | 2.51 | -1.31 |
| Max drawdown (3Y) | -67.2% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIOT | VXZ |
|---|---|---|
| 2022 | -43.2% | +0.5% |
| 2023 | +27.1% | -44.0% |
| 2024 | +94.7% | -12.7% |
| 2025 | -20.1% | +5.7% |
| 2026 | -43.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIOT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between AIOT and VXZ?
The AIOT/VXZ correlation stands at -0.47 on a 3-year window (1 year: -0.46, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AIOT?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 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/aiot-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aiot-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIOT correlations · VXZ correlations
