AMR vs VXZ: Correlation
Measured on weekly returns over the past three years, Alpha Metallurgical Resources, Inc. (AMR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMR and VXZ?
Over the past 3 years, AMR and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.09 versus -0.32 over 3 years. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -453.8 %².
Among the 12 assets we track against AMR, VXZ sits near the bottom by co-movement, at rank #11. The last year tells two different stories: AMR led by 72.2 percentage points, +56.1% for AMR against -16.1% for VXZ. Risk is not evenly split, since AMR carries 2.2 times the volatility of the other side.
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.
AMR vs VXZ: side by side
| AMR (Alpha Metallurgical Resources, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +56.1% | -16.1% |
| 5-year return | +514.2% | -53.1% |
| Volatility (ann.) | 56.0% | 25.6% |
| Beta vs S&P 500 | 1.13 | -1.31 |
| Max drawdown (3Y) | -77.5% | -36.4% |
| Market cap | $2.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMR | VXZ |
|---|---|---|
| 2022 | +150.1% | +0.5% |
| 2023 | +133.9% | -44.0% |
| 2024 | -41.0% | -12.7% |
| 2025 | -0.1% | +5.7% |
| 2026 | +13.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, AMR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMR and VXZ?
As of 2026-08-27, the correlation of weekly returns between AMR and VXZ is -0.32 over 3 years, -0.09 over 1 year and -0.24 over 5 years.
Is VXZ a good diversifier for AMR?
Yes. With a correlation of -0.32, AMR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 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/amr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMR correlations · VXZ correlations
