ASB vs VXZ: Correlation
Associated Banc-Corp (ASB) 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 -0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASB and VXZ?
On 3 years of weekly data the ASB/VXZ correlation comes out at -0.61, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.42) than the 3-year average (-0.61). The 5-year figure is -0.56, and annualized covariance runs at -452.4 %².
Out of 47 assets tracked against ASB, VXZ lands near the bottom at #47. Their recent paths diverged sharply: over the last 12 months ASB outperformed by 34.6 percentage points (+18.5% for ASB against -16.1% for VXZ).
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.
ASB vs VXZ: side by side
| ASB (Associated Banc-Corp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +18.5% | -16.1% |
| 5-year return | +82.7% | -53.1% |
| Volatility (ann.) | 29.0% | 25.6% |
| Beta vs S&P 500 | 1.03 | -1.31 |
| Max drawdown (3Y) | -31.6% | -36.4% |
| Market cap | $5.8B | – |
| P/E (trailing) | 10.8 | – |
| Dividend yield | 3.08% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASB | VXZ |
|---|---|---|
| 2022 | +6.0% | +0.5% |
| 2023 | -2.9% | -44.0% |
| 2024 | +16.2% | -12.7% |
| 2025 | +11.8% | +5.7% |
| 2026 | +21.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.61, ASB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASB and VXZ?
Using weekly returns as of 2026-08-27: -0.61 over 3 years, with -0.42 over the last year and -0.56 over 5 years.
Is VXZ a good diversifier for ASB?
Yes. With a correlation of -0.61, ASB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.61 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/asb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASB correlations · VXZ correlations
