ALGM vs VXZ: Correlation
Allegro MicroSystems, Inc. (ALGM) 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 -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGM and VXZ?
Over the past 3 years, ALGM and VXZ moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.44 over 1 year against -0.34 over 3. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -497.4 %².
Among the 11 assets we track against ALGM, VXZ sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with ALGM ahead by 35.6 points (+19.5% versus -16.1%). One caveat on sizing: ALGM is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALGM vs VXZ: side by side
| ALGM (Allegro MicroSystems, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.5% | -16.1% |
| 5-year return | +23.1% | -53.1% |
| Volatility (ann.) | 56.9% | 25.6% |
| Beta vs S&P 500 | 1.83 | -1.31 |
| Max drawdown (3Y) | -57.2% | -36.4% |
| Market cap | $7.0B | – |
| P/E (trailing) | 537.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALGM | VXZ |
|---|---|---|
| 2022 | -17.0% | +0.5% |
| 2023 | +0.8% | -44.0% |
| 2024 | -27.8% | -12.7% |
| 2025 | +20.7% | +5.7% |
| 2026 | +42.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGM and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALGM and VXZ?
The ALGM/VXZ correlation stands at -0.34 on a 3-year window (1 year: -0.44, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ALGM?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/algm-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algm-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALGM correlations · VXZ correlations
