ANET vs VXZ: Correlation
How closely do Arista Networks (ANET) 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 -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANET and VXZ?
On 3 years of weekly data the ANET/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 -0.32 versus -0.47 over 3 years. The 5-year figure is -0.40, and annualized covariance runs at -593.3 %².
Out of 35 assets tracked against ANET, VXZ lands near the bottom at #33. The last year tells two different stories: ANET led by 67.0 percentage points, +50.9% for ANET against -16.1% for VXZ. Note the risk asymmetry: ANET runs 1.9 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.
ANET vs VXZ: side by side
| ANET (Arista Networks) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +50.9% | -16.1% |
| 5-year return | +764.7% | -53.1% |
| Volatility (ann.) | 49.3% | 25.6% |
| Beta vs S&P 500 | 2.20 | -1.31 |
| Max drawdown (3Y) | -50.4% | -36.4% |
| Market cap | $253.6B | – |
| P/E (trailing) | 64.0 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ANET | VXZ |
|---|---|---|
| 2022 | -15.6% | +0.5% |
| 2023 | +94.1% | -44.0% |
| 2024 | +87.7% | -12.7% |
| 2025 | +18.5% | +5.7% |
| 2026 | +53.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANET 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 ANET and VXZ?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.32 over the last year and -0.40 over 5 years.
Is VXZ a good diversifier for ANET?
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?
On the −1 to +1 scale, -0.47 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/anet-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/anet-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANET correlations · VXZ correlations
