ALAB vs VXZ: Correlation
Astera Labs, Inc. (ALAB) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALAB and VXZ?
Across a 3-year window, the weekly returns of ALAB and VXZ correlate at -0.38, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -821.6 %².
VXZ is close to the least connected end of ALAB's tracked universe, ranking #16 of 18. The last year tells two different stories: ALAB led by 85.8 percentage points, +69.7% for ALAB against -16.1% for VXZ. Risk is not evenly split, since ALAB carries 3.3 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.
ALAB vs VXZ: side by side
| ALAB (Astera Labs, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +69.7% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 84.6% | 25.6% |
| Beta vs S&P 500 | 2.90 | -1.31 |
| Max drawdown (3Y) | -63.7% | -36.4% |
| Market cap | $52.8B | – |
| P/E (trailing) | 142.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALAB | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | – | -12.7% |
| 2025 | +25.6% | +5.7% |
| 2026 | +82.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALAB and VXZ good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALAB and VXZ?
The ALAB/VXZ correlation stands at -0.38 on a 3-year window (1 year: -0.32, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ALAB?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 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/alab-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alab-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALAB correlations · VXZ correlations
