ALGN vs VXZ: Correlation
Measured on weekly returns over the past three years, Align Technology (ALGN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGN and VXZ?
On 3 years of weekly data the ALGN/VXZ correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. The 5-year figure is -0.43, and annualized covariance runs at -414.9 %².
Out of 37 assets tracked against ALGN, VXZ lands near the bottom at #36. Correlation aside, the last 12 months split them widely, with ALGN ahead by 28.0 points (+11.9% versus -16.1%). One caveat on sizing: ALGN is 1.7 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.
ALGN vs VXZ: side by side
| ALGN (Align Technology) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.9% | -16.1% |
| 5-year return | -77.4% | -53.1% |
| Volatility (ann.) | 44.3% | 25.6% |
| Beta vs S&P 500 | 1.51 | -1.31 |
| Max drawdown (3Y) | -66.7% | -36.4% |
| Market cap | $11.3B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ALGN | VXZ |
|---|---|---|
| 2022 | -67.9% | +0.5% |
| 2023 | +29.9% | -44.0% |
| 2024 | -23.9% | -12.7% |
| 2025 | -25.1% | +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 ALGN and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALGN and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.33 over the last year and -0.43 over 5 years.
Is VXZ a good diversifier for ALGN?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
A reading of -0.37 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/algn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALGN correlations · VXZ correlations
