AMAL vs VXX: Correlation
Amalgamated Financial Corp. (AMAL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAL and VXX?
Across a 3-year window, the weekly returns of AMAL and VXX correlate at -0.45, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.26) runs above the 3-year figure (-0.45). Stretching to 5 years gives -0.42, with an annualized covariance of -872.7 %².
Among the 11 assets we track against AMAL, VXX sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with AMAL ahead by 116.4 points (+66.7% versus -49.7%). Note the risk asymmetry: VXX runs 1.9 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.
AMAL vs VXX: side by side
| AMAL (Amalgamated Financial Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +66.7% | -49.7% |
| 5-year return | +247.4% | -95.6% |
| Volatility (ann.) | 32.0% | 60.9% |
| Beta vs S&P 500 | 0.84 | -3.31 |
| Max drawdown (3Y) | -32.8% | -83.3% |
| Market cap | $1.5B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 1.34% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMAL | VXX |
|---|---|---|
| 2022 | +39.8% | -23.8% |
| 2023 | +19.4% | -72.5% |
| 2024 | +26.3% | -26.2% |
| 2025 | -2.5% | -42.2% |
| 2026 | +53.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAL and VXX good diversifiers for each other?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMAL and VXX?
The AMAL/VXX correlation stands at -0.45 on a 3-year window (1 year: -0.26, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AMAL?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.45 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/amal-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amal-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMAL correlations · VXX correlations
