ALTG vs VXZ: Correlation
Alta Equipment Group Inc. (ALTG) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTG and VXZ?
Across a 3-year window, the weekly returns of ALTG and VXZ correlate at -0.36, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Stretching to 5 years gives -0.38, with an annualized covariance of -601.8 %².
VXZ is close to the least connected end of ALTG's tracked universe, ranking #10 of 12. Over the last 12 months VXZ came out ahead by 9.8 percentage points (-25.9% against -16.1%). Note the risk asymmetry: ALTG runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALTG vs VXZ: side by side
| ALTG (Alta Equipment Group Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -25.9% | -16.1% |
| 5-year return | -50.0% | -53.1% |
| Volatility (ann.) | 65.4% | 25.6% |
| Beta vs S&P 500 | 2.11 | -1.31 |
| Max drawdown (3Y) | -71.8% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALTG | VXZ |
|---|---|---|
| 2022 | -9.1% | +0.5% |
| 2023 | -4.7% | -44.0% |
| 2024 | -45.5% | -12.7% |
| 2025 | -28.4% | +5.7% |
| 2026 | +34.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.36, ALTG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALTG and VXZ?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.34 over the last year and -0.38 over 5 years.
Is VXZ a good diversifier for ALTG?
Yes. With a correlation of -0.36, ALTG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 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/altg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/altg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALTG correlations · VXZ correlations
