AMSC vs VXZ: Correlation
American Superconductor Corporation (AMSC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMSC and VXZ?
On 3 years of weekly data the AMSC/VXZ correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.18) runs above the 3-year figure (-0.33). The 5-year figure is -0.37, and annualized covariance runs at -656.7 %².
Out of 13 assets tracked against AMSC, VXZ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 26.6 percentage points (-42.7% for AMSC against -16.1% for VXZ). Note the risk asymmetry: AMSC runs 3.1 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.
AMSC vs VXZ: side by side
| AMSC (American Superconductor Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -42.7% | -16.1% |
| 5-year return | +141.8% | -53.1% |
| Volatility (ann.) | 78.4% | 25.6% |
| Beta vs S&P 500 | 2.16 | -1.31 |
| Max drawdown (3Y) | -61.1% | -36.4% |
| Market cap | $1.4B | – |
| P/E (trailing) | 9.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMSC | VXZ |
|---|---|---|
| 2022 | -66.2% | +0.5% |
| 2023 | +202.7% | -44.0% |
| 2024 | +121.1% | -12.7% |
| 2025 | +16.8% | +5.7% |
| 2026 | +3.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMSC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.33, AMSC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMSC and VXZ?
As of 2026-08-27, the correlation of weekly returns between AMSC and VXZ is -0.33 over 3 years, -0.18 over 1 year and -0.37 over 5 years.
Is VXZ a good diversifier for AMSC?
Yes. With a correlation of -0.33, AMSC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amsc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amsc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMSC correlations · VXZ correlations
