ANNX vs VXZ: Correlation
Annexon, Inc. (ANNX) 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 -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANNX and VXZ?
Across a 3-year window, the weekly returns of ANNX and VXZ correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.14 over 1 year against -0.23 over 3. Stretching to 5 years gives -0.19, with an annualized covariance of -557.7 %².
Among the 13 assets we track against ANNX, VXZ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: ANNX led by 164.9 percentage points, +148.8% for ANNX against -16.1% for VXZ. Note the risk asymmetry: ANNX runs 3.6 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.
ANNX vs VXZ: side by side
| ANNX (Annexon, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +148.8% | -16.1% |
| 5-year return | -68.9% | -53.1% |
| Volatility (ann.) | 92.8% | 25.6% |
| Beta vs S&P 500 | 1.72 | -1.31 |
| Max drawdown (3Y) | -82.3% | -36.4% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANNX | VXZ |
|---|---|---|
| 2022 | -55.0% | +0.5% |
| 2023 | -12.2% | -44.0% |
| 2024 | +13.0% | -12.7% |
| 2025 | -2.1% | +5.7% |
| 2026 | +4.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNX and VXZ good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ANNX and VXZ?
The ANNX/VXZ correlation stands at -0.23 on a 3-year window (1 year: -0.14, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ANNX?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/annx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/annx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANNX correlations · VXZ correlations
