AMZN vs VXZ: Correlation
Amazon (AMZN) 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 -0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMZN and VXZ?
On 3 years of weekly data the AMZN/VXZ correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.34 versus -0.47 over 3 years. The 5-year figure is -0.45, and annualized covariance runs at -374.4 %².
VXZ is close to the least connected end of AMZN's tracked universe, ranking #36 of 38. The last year tells two different stories: AMZN led by 27.9 percentage points, +11.8% for AMZN 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.
AMZN vs VXZ: side by side
| AMZN (Amazon) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.8% | -16.1% |
| 5-year return | +49.8% | -53.1% |
| Volatility (ann.) | 31.0% | 25.6% |
| Beta vs S&P 500 | 1.48 | -1.31 |
| Max drawdown (3Y) | -30.9% | -36.4% |
| Market cap | $2,764.1B | – |
| P/E (trailing) | 20.9 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | AMZN | VXZ |
|---|---|---|
| 2022 | -49.6% | +0.5% |
| 2023 | +80.9% | -44.0% |
| 2024 | +44.4% | -12.7% |
| 2025 | +5.2% | +5.7% |
| 2026 | +11.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMZN and VXZ good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMZN and VXZ?
As of 2026-08-27, the correlation of weekly returns between AMZN and VXZ is -0.47 over 3 years, -0.34 over 1 year and -0.45 over 5 years.
Is VXZ a good diversifier for AMZN?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 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/amzn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amzn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMZN correlations · VXZ correlations
