ALLE vs VXZ: Correlation
How closely do Allegion (ALLE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALLE and VXZ?
Over the past 3 years, ALLE and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.15) than the 3-year average (-0.32). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -196.1 %².
VXZ is close to the least connected end of ALLE's tracked universe, ranking #33 of 33. On 12-month performance ALLE holds a 9.7-point edge, -6.4% 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.
ALLE vs VXZ: side by side
| ALLE (Allegion) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.4% | -16.1% |
| 5-year return | +19.4% | -53.1% |
| Volatility (ann.) | 24.3% | 25.6% |
| Beta vs S&P 500 | 0.60 | -1.31 |
| Max drawdown (3Y) | -29.8% | -36.4% |
| Market cap | $13.6B | – |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 1.32% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ALLE | VXZ |
|---|---|---|
| 2022 | -19.3% | +0.5% |
| 2023 | +22.3% | -44.0% |
| 2024 | +4.7% | -12.7% |
| 2025 | +22.8% | +5.7% |
| 2026 | +1.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALLE and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALLE and VXZ?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.15 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for ALLE?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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/alle-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alle-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALLE correlations · VXZ correlations
