AMCR vs VXZ: Correlation
How closely do Amcor (AMCR) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMCR and VXZ?
Over the past 3 years, AMCR and VXZ moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -163.3 %².
VXZ is close to the least connected end of AMCR's tracked universe, ranking #34 of 36. Correlation aside, the last 12 months split them widely, with AMCR ahead by 28.7 points (+12.6% versus -16.1%).
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.
AMCR vs VXZ: side by side
| AMCR (Amcor) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +12.6% | -16.1% |
| 5-year return | -9.8% | -53.1% |
| Volatility (ann.) | 24.5% | 25.6% |
| Beta vs S&P 500 | 0.46 | -1.31 |
| Max drawdown (3Y) | -32.0% | -36.4% |
| Market cap | $21.5B | – |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 5.51% | – |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | AMCR | VXZ |
|---|---|---|
| 2022 | +3.2% | +0.5% |
| 2023 | -15.0% | -44.0% |
| 2024 | +2.6% | -12.7% |
| 2025 | -9.0% | +5.7% |
| 2026 | +14.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMCR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.26, AMCR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMCR and VXZ?
The AMCR/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.37, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AMCR?
Yes. With a correlation of -0.26, AMCR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 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/amcr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amcr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMCR correlations · VXZ correlations
