ALSN vs VXZ: Correlation
Allison Transmission Holdings, Inc. (ALSN) 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 -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALSN and VXZ?
Over the past 3 years, ALSN and VXZ moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.37 over 3. Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -282.4 %².
Among the 12 assets we track against ALSN, VXZ sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with ALSN ahead by 62.4 points (+46.3% 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.
ALSN vs VXZ: side by side
| ALSN (Allison Transmission Holdings, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +46.3% | -16.1% |
| 5-year return | +271.5% | -53.1% |
| Volatility (ann.) | 29.8% | 25.6% |
| Beta vs S&P 500 | 0.81 | -1.31 |
| Max drawdown (3Y) | -33.6% | -36.4% |
| Market cap | $10.7B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.87% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALSN | VXZ |
|---|---|---|
| 2022 | +16.9% | +0.5% |
| 2023 | +42.3% | -44.0% |
| 2024 | +88.0% | -12.7% |
| 2025 | -8.3% | +5.7% |
| 2026 | +32.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALSN and VXZ good diversifiers for each other?
Yes. With a correlation of -0.37, ALSN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALSN and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.32 over the last year and -0.42 over 5 years.
Is VXZ a good diversifier for ALSN?
Yes. With a correlation of -0.37, ALSN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 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/alsn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alsn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALSN correlations · VXZ correlations
