APOG vs VXZ: Correlation
Apogee Enterprises, Inc. (APOG) 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 -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APOG and VXZ?
Across a 3-year window, the weekly returns of APOG and VXZ correlate at -0.39, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.39 over 3. Stretching to 5 years gives -0.42, with an annualized covariance of -411.2 %².
Among the 15 assets we track against APOG, VXZ sits near the bottom by co-movement, at rank #15. The trailing year gives APOG the advantage: -5.7% versus -16.1%, a 10.4-point spread. Note the risk asymmetry: APOG runs 1.6 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.
APOG vs VXZ: side by side
| APOG (Apogee Enterprises, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.7% | -16.1% |
| 5-year return | +5.1% | -53.1% |
| Volatility (ann.) | 41.4% | 25.6% |
| Beta vs S&P 500 | 0.88 | -1.31 |
| Max drawdown (3Y) | -62.5% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 2.59% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APOG | VXZ |
|---|---|---|
| 2022 | -5.7% | +0.5% |
| 2023 | +22.8% | -44.0% |
| 2024 | +35.8% | -12.7% |
| 2025 | -47.8% | +5.7% |
| 2026 | +14.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APOG and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between APOG and VXZ?
The APOG/VXZ correlation stands at -0.39 on a 3-year window (1 year: -0.34, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for APOG?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/apog-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apog-vs-vxz/)
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Related comparisons
Hubs: APOG correlations · VXZ correlations
