ALEC vs VXZ: Correlation
Measured on weekly returns over the past three years, Alector, Inc. (ALEC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALEC and VXZ?
Across a 3-year window, the weekly returns of ALEC and VXZ correlate at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.22 versus -0.35 over 3 years. Stretching to 5 years gives -0.27, with an annualized covariance of -811.2 %².
VXZ is close to the least connected end of ALEC's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months ALEC outperformed by 15.7 percentage points (-0.4% for ALEC against -16.1% for VXZ). Risk is not evenly split, since ALEC carries 3.5 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.
ALEC vs VXZ: side by side
| ALEC (Alector, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.4% | -16.1% |
| 5-year return | -90.9% | -53.1% |
| Volatility (ann.) | 90.5% | 25.6% |
| Beta vs S&P 500 | 2.06 | -1.31 |
| Max drawdown (3Y) | -89.2% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALEC | VXZ |
|---|---|---|
| 2022 | -55.3% | +0.5% |
| 2023 | -13.5% | -44.0% |
| 2024 | -76.3% | -12.7% |
| 2025 | -17.5% | +5.7% |
| 2026 | +53.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALEC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALEC and VXZ?
As of 2026-08-27, the correlation of weekly returns between ALEC and VXZ is -0.35 over 3 years, -0.22 over 1 year and -0.27 over 5 years.
Is VXZ a good diversifier for ALEC?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 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/alec-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alec-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALEC correlations · VXZ correlations
