AMCX vs VXZ: Correlation
How closely do AMC Global Media Inc. (AMCX) 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 -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMCX and VXZ?
Over the past 3 years, AMCX and VXZ moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.39 over 3. Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -545.8 %².
Among the 12 assets we track against AMCX, VXZ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: AMCX led by 92.8 percentage points, +76.7% for AMCX against -16.1% for VXZ. One caveat on sizing: AMCX is 2.1 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.
AMCX vs VXZ: side by side
| AMCX (AMC Global Media Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +76.7% | -16.1% |
| 5-year return | -74.1% | -53.1% |
| Volatility (ann.) | 54.2% | 25.6% |
| Beta vs S&P 500 | 1.21 | -1.31 |
| Max drawdown (3Y) | -73.1% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMCX | VXZ |
|---|---|---|
| 2022 | -54.5% | +0.5% |
| 2023 | +19.9% | -44.0% |
| 2024 | -47.3% | -12.7% |
| 2025 | -3.8% | +5.7% |
| 2026 | +29.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMCX and VXZ good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMCX and VXZ?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.39 over the last year and -0.36 over 5 years.
Is VXZ a good diversifier for AMCX?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
A reading of -0.39 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/amcx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amcx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMCX correlations · VXZ correlations
