ALG vs VXZ: Correlation
Alamo Group, Inc. (ALG) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALG and VXZ?
On 3 years of weekly data the ALG/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.45) sits close to the 3-year figure. The 5-year figure is -0.45, and annualized covariance runs at -325.0 %².
VXZ is close to the least connected end of ALG's tracked universe, ranking #16 of 17. On 12-month performance VXZ holds a 7.9-point edge, -24.0% 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.
ALG vs VXZ: side by side
| ALG (Alamo Group, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -24.0% | -16.1% |
| 5-year return | +9.2% | -53.1% |
| Volatility (ann.) | 30.3% | 25.6% |
| Beta vs S&P 500 | 0.83 | -1.31 |
| Max drawdown (3Y) | -36.3% | -36.4% |
| Market cap | $2.0B | – |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 0.78% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALG | VXZ |
|---|---|---|
| 2022 | -3.3% | +0.5% |
| 2023 | +49.2% | -44.0% |
| 2024 | -11.1% | -12.7% |
| 2025 | -9.1% | +5.7% |
| 2026 | -1.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALG and VXZ?
The ALG/VXZ correlation stands at -0.42 on a 3-year window (1 year: -0.45, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ALG?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
A reading of -0.42 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/alg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALG correlations · VXZ correlations
