AMG vs VXX: Correlation
Measured on weekly returns over the past three years, Affiliated Managers Group, Inc. (AMG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMG and VXX?
Across a 3-year window, the weekly returns of AMG and VXX correlate at -0.43, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.43). Stretching to 5 years gives -0.42, with an annualized covariance of -697.8 %².
Among the 13 assets we track against AMG, VXX sits near the bottom by co-movement, at rank #12. The last year tells two different stories: AMG led by 112.4 percentage points, +62.7% for AMG against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AMG vs VXX: side by side
| AMG (Affiliated Managers Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +62.7% | -49.7% |
| 5-year return | +116.5% | -95.6% |
| Volatility (ann.) | 26.6% | 60.9% |
| Beta vs S&P 500 | 0.82 | -3.31 |
| Max drawdown (3Y) | -27.0% | -83.3% |
| Market cap | $9.6B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 0.01% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMG | VXX |
|---|---|---|
| 2022 | -3.7% | -23.8% |
| 2023 | -4.4% | -72.5% |
| 2024 | +22.2% | -26.2% |
| 2025 | +55.9% | -42.2% |
| 2026 | +28.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMG and VXX good diversifiers for each other?
Yes. With a correlation of -0.43, AMG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMG and VXX?
As of 2026-08-27, the correlation of weekly returns between AMG and VXX is -0.43 over 3 years, -0.25 over 1 year and -0.42 over 5 years.
Is VXX a good diversifier for AMG?
Yes. With a correlation of -0.43, AMG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 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/amg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMG correlations · VXX correlations
