AMAT vs VXX: Correlation
Measured on weekly returns over the past three years, Applied Materials (AMAT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAT and VXX?
On 3 years of weekly data the AMAT/VXX correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.38) sits close to the 3-year figure. The 5-year figure is -0.46, and annualized covariance runs at -1258.9 %².
Among the 34 assets we track against AMAT, VXX sits near the bottom by co-movement, at rank #33. The last year tells two different stories: AMAT led by 244.7 percentage points, +195.0% for AMAT against -49.7% for VXX.
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.
AMAT vs VXX: side by side
| AMAT (Applied Materials) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +195.0% | -49.7% |
| 5-year return | +269.5% | -95.6% |
| Volatility (ann.) | 43.5% | 60.9% |
| Beta vs S&P 500 | 1.69 | -3.31 |
| Max drawdown (3Y) | -49.9% | -83.3% |
| Market cap | $382.8B | – |
| P/E (trailing) | 41.3 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AMAT | VXX |
|---|---|---|
| 2022 | -37.5% | -23.8% |
| 2023 | +68.0% | -72.5% |
| 2024 | +1.1% | -26.2% |
| 2025 | +59.6% | -42.2% |
| 2026 | +88.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAT and VXX good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMAT and VXX?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.38 over the last year and -0.46 over 5 years.
Is VXX a good diversifier for AMAT?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 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/amat-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amat-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMAT correlations · VXX correlations
