AME vs VXZ: Correlation
How closely do Ametek (AME) 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 -0.52, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AME and VXZ?
On 3 years of weekly data the AME/VXZ correlation comes out at -0.52, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.38 versus -0.52 over 3 years. The 5-year figure is -0.57, and annualized covariance runs at -274.0 %².
Out of 31 assets tracked against AME, VXZ lands near the bottom at #30. The last year tells two different stories: AME led by 47.5 percentage points, +31.4% for AME 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.
AME vs VXZ: side by side
| AME (Ametek) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +31.4% | -16.1% |
| 5-year return | +83.6% | -53.1% |
| Volatility (ann.) | 20.4% | 25.6% |
| Beta vs S&P 500 | 0.84 | -1.31 |
| Max drawdown (3Y) | -23.0% | -36.4% |
| Market cap | $55.9B | – |
| P/E (trailing) | 35.8 | – |
| Dividend yield | 0.53% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | AME | VXZ |
|---|---|---|
| 2022 | -4.3% | +0.5% |
| 2023 | +18.8% | -44.0% |
| 2024 | +10.0% | -12.7% |
| 2025 | +14.7% | +5.7% |
| 2026 | +19.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AME and VXZ good diversifiers for each other?
Yes. With a correlation of -0.52, AME and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AME and VXZ?
The AME/VXZ correlation stands at -0.52 on a 3-year window (1 year: -0.38, 5 years: -0.57), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AME?
Yes. With a correlation of -0.52, AME and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.52 mean?
A reading of -0.52 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/ame-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ame-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AME correlations · VXZ correlations
