AMUB vs VXZ: Correlation
How closely do ETRACS Alerian MLP Index ETN Series B due July 18, 2042 (AMUB) 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 -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMUB and VXZ?
On 3 years of weekly data the AMUB/VXZ correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.19) runs above the 3-year figure (-0.37). The 5-year figure is -0.36, and annualized covariance runs at -155.6 %².
VXZ is close to the least connected end of AMUB's tracked universe, ranking #20 of 20. The last year tells two different stories: AMUB led by 47.0 percentage points, +30.9% for AMUB against -16.1% for VXZ. One caveat on sizing: VXZ is 1.6 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.
AMUB vs VXZ: side by side
| AMUB (ETRACS Alerian MLP Index ETN Series B due July 18, 2042) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +30.9% | -16.1% |
| 5-year return | +191.0% | -53.1% |
| Volatility (ann.) | 16.5% | 25.6% |
| Beta vs S&P 500 | 0.31 | -1.31 |
| Max drawdown (3Y) | -17.0% | -36.4% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMUB | VXZ |
|---|---|---|
| 2022 | +29.9% | +0.5% |
| 2023 | +25.4% | -44.0% |
| 2024 | +23.0% | -12.7% |
| 2025 | +8.7% | +5.7% |
| 2026 | +29.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMUB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.37, AMUB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMUB and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with 0.19 over the last year and -0.36 over 5 years.
Is VXZ a good diversifier for AMUB?
Yes. With a correlation of -0.37, AMUB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 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/amub-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amub-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMUB correlations · VXZ correlations
