ASG vs VXZ: Correlation
How closely do Liberty All-Star Growth Fund, Inc. (ASG) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.65, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and VXZ?
Across a 3-year window, the weekly returns of ASG and VXZ correlate at -0.65, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.70 lands near the 3-year figure. Stretching to 5 years gives -0.59, with an annualized covariance of -304.4 %².
VXZ is close to the least connected end of ASG's tracked universe, ranking #50 of 52. The last year tells two different stories: ASG led by 19.4 percentage points, +3.3% for ASG 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.
ASG vs VXZ: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.3% | -16.1% |
| 5-year return | -5.6% | -53.1% |
| Volatility (ann.) | 18.3% | 25.6% |
| Beta vs S&P 500 | 1.12 | -1.31 |
| Max drawdown (3Y) | -25.3% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 8.76% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASG | VXZ |
|---|---|---|
| 2022 | -40.9% | +0.5% |
| 2023 | +16.2% | -44.0% |
| 2024 | +16.8% | -12.7% |
| 2025 | +2.2% | +5.7% |
| 2026 | +6.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.65, ASG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASG and VXZ?
The ASG/VXZ correlation stands at -0.65 on a 3-year window (1 year: -0.70, 5 years: -0.59), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ASG?
Yes. With a correlation of -0.65, ASG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.65 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/asg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASG correlations · VXZ correlations
