AMAL vs VXZ: Correlation
How closely do Amalgamated Financial Corp. (AMAL) 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 -0.50, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAL and VXZ?
Across a 3-year window, the weekly returns of AMAL and VXZ correlate at -0.50, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.36 versus -0.50 over 3 years. Stretching to 5 years gives -0.44, with an annualized covariance of -405.2 %².
Among the 11 assets we track against AMAL, VXZ sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months AMAL outperformed by 82.8 percentage points (+66.7% for AMAL against -16.1% for VXZ).
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 VXZ: side by side
| AMAL (Amalgamated Financial Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +66.7% | -16.1% |
| 5-year return | +247.4% | -53.1% |
| Volatility (ann.) | 32.0% | 25.6% |
| Beta vs S&P 500 | 0.84 | -1.31 |
| Max drawdown (3Y) | -32.8% | -36.4% |
| Market cap | $1.5B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 1.34% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMAL | VXZ |
|---|---|---|
| 2022 | +39.8% | +0.5% |
| 2023 | +19.4% | -44.0% |
| 2024 | +26.3% | -12.7% |
| 2025 | -2.5% | +5.7% |
| 2026 | +53.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAL and VXZ good diversifiers for each other?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMAL and VXZ?
As of 2026-08-27, the correlation of weekly returns between AMAL and VXZ is -0.50 over 3 years, -0.36 over 1 year and -0.44 over 5 years.
Is VXZ a good diversifier for AMAL?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.50 mean?
A reading of -0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amal-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amal-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMAL correlations · VXZ correlations
