ALL vs VXZ: Correlation
Measured on weekly returns over the past three years, Allstate (ALL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALL and VXZ?
On 3 years of weekly data the ALL/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.04) runs above the 3-year figure (-0.27). The 5-year figure is -0.28, and annualized covariance runs at -155.1 %².
Out of 32 assets tracked against ALL, VXZ lands near the bottom at #32. Correlation aside, the last 12 months split them widely, with ALL ahead by 45.0 points (+28.9% versus -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.
ALL vs VXZ: side by side
| ALL (Allstate) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.9% | -16.1% |
| 5-year return | +114.7% | -53.1% |
| Volatility (ann.) | 22.1% | 25.6% |
| Beta vs S&P 500 | 0.31 | -1.31 |
| Max drawdown (3Y) | -14.1% | -36.4% |
| Market cap | $65.1B | – |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 1.59% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ALL | VXZ |
|---|---|---|
| 2022 | +18.4% | +0.5% |
| 2023 | +6.4% | -44.0% |
| 2024 | +40.6% | -12.7% |
| 2025 | +10.1% | +5.7% |
| 2026 | +25.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALL and VXZ good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALL and VXZ?
The ALL/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.04, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ALL?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/all-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/all-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALL correlations · VXZ correlations
