APAM vs VXZ: Correlation
Measured on weekly returns over the past three years, Artisan Partners Asset Management Inc. (APAM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.57, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APAM and VXZ?
On 3 years of weekly data the APAM/VXZ correlation comes out at -0.57, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.37 versus -0.57 over 3 years. The 5-year figure is -0.58, and annualized covariance runs at -391.9 %².
Out of 17 assets tracked against APAM, VXZ lands near the bottom at #17. Correlation aside, the last 12 months split them widely, with APAM ahead by 17.3 points (+1.2% versus -16.1%).
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.
APAM vs VXZ: side by side
| APAM (Artisan Partners Asset Management Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.2% | -16.1% |
| 5-year return | +28.1% | -53.1% |
| Volatility (ann.) | 27.0% | 25.6% |
| Beta vs S&P 500 | 1.14 | -1.31 |
| Max drawdown (3Y) | -28.9% | -36.4% |
| Market cap | $3.1B | – |
| P/E (trailing) | 10.4 | – |
| Dividend yield | 7.95% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APAM | VXZ |
|---|---|---|
| 2022 | -31.3% | +0.5% |
| 2023 | +60.3% | -44.0% |
| 2024 | +4.8% | -12.7% |
| 2025 | +2.7% | +5.7% |
| 2026 | +15.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APAM and VXZ good diversifiers for each other?
Yes: at -0.57, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between APAM and VXZ?
Using weekly returns as of 2026-08-27: -0.57 over 3 years, with -0.37 over the last year and -0.58 over 5 years.
Is VXZ a good diversifier for APAM?
Yes: at -0.57, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.57 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/apam-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apam-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APAM correlations · VXZ correlations
