AMBA vs VXZ: Correlation
Ambarella, Inc. (AMBA) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMBA and VXZ?
On 3 years of weekly data the AMBA/VXZ correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.14 versus -0.41 over 3 years. The 5-year figure is -0.42, and annualized covariance runs at -626.7 %².
VXZ is close to the least connected end of AMBA's tracked universe, ranking #8 of 10. Their recent paths diverged sharply: over the last 12 months AMBA outperformed by 15.0 percentage points (-1.1% for AMBA against -16.1% for VXZ). One caveat on sizing: AMBA is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AMBA vs VXZ: side by side
| AMBA (Ambarella, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.1% | -16.1% |
| 5-year return | -32.5% | -53.1% |
| Volatility (ann.) | 59.8% | 25.6% |
| Beta vs S&P 500 | 2.14 | -1.31 |
| Max drawdown (3Y) | -51.4% | -36.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMBA | VXZ |
|---|---|---|
| 2022 | -59.5% | +0.5% |
| 2023 | -25.5% | -44.0% |
| 2024 | +18.7% | -12.7% |
| 2025 | -2.6% | +5.7% |
| 2026 | +0.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMBA and VXZ good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMBA and VXZ?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.14 over the last year and -0.42 over 5 years.
Is VXZ a good diversifier for AMBA?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 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/amba-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amba-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMBA correlations · VXZ correlations
