ANF vs VXZ: Correlation
Abercrombie & Fitch Company (ANF) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANF and VXZ?
Over the past 3 years, ANF and VXZ moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.51 versus -0.41 over 3 years. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -606.6 %².
Out of 12 assets tracked against ANF, VXZ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months ANF outperformed by 68.9 percentage points (+52.8% for ANF against -16.1% for VXZ). One caveat on sizing: ANF is 2.3 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.
ANF vs VXZ: side by side
| ANF (Abercrombie & Fitch Company) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +52.8% | -16.1% |
| 5-year return | +299.1% | -53.1% |
| Volatility (ann.) | 57.9% | 25.6% |
| Beta vs S&P 500 | 1.47 | -1.31 |
| Max drawdown (3Y) | -65.9% | -36.4% |
| Market cap | $6.5B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANF | VXZ |
|---|---|---|
| 2022 | -34.2% | +0.5% |
| 2023 | +285.1% | -44.0% |
| 2024 | +69.4% | -12.7% |
| 2025 | -15.8% | +5.7% |
| 2026 | +15.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANF and VXZ good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ANF and VXZ?
The ANF/VXZ correlation stands at -0.41 on a 3-year window (1 year: -0.51, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ANF?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
On the −1 to +1 scale, -0.41 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/anf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/anf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANF correlations · VXZ correlations
