AOSL vs VXZ: Correlation
Alpha and Omega Semiconductor Limited (AOSL) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AOSL and VXZ?
Over the past 3 years, AOSL and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.38 over 3 years. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -669.6 %².
Out of 16 assets tracked against AOSL, VXZ lands near the bottom at #15. Neither side won the trailing year by much: -11.4% against -16.1%. Risk is not evenly split, since AOSL carries 2.7 times the volatility of the other side.
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.
AOSL vs VXZ: side by side
| AOSL (Alpha and Omega Semiconductor Limited) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -11.4% | -16.1% |
| 5-year return | -9.2% | -53.1% |
| Volatility (ann.) | 69.3% | 25.6% |
| Beta vs S&P 500 | 2.34 | -1.31 |
| Max drawdown (3Y) | -66.9% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AOSL | VXZ |
|---|---|---|
| 2022 | -52.8% | +0.5% |
| 2023 | -8.8% | -44.0% |
| 2024 | +42.1% | -12.7% |
| 2025 | -46.5% | +5.7% |
| 2026 | +32.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AOSL and VXZ good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AOSL and VXZ?
The AOSL/VXZ correlation stands at -0.38 on a 3-year window (1 year: -0.25, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AOSL?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
A reading of -0.38 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/aosl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aosl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AOSL correlations · VXZ correlations
