ASLE vs VXZ: Correlation
AerSale Corporation (ASLE) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASLE and VXZ?
Over the past 3 years, ASLE and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.54) than the 3-year average (-0.30). Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -374.8 %².
VXZ is close to the least connected end of ASLE's tracked universe, ranking #11 of 12. Correlation aside, the last 12 months split them widely, with VXZ ahead by 19.5 points (-35.6% versus -16.1%). One caveat on sizing: ASLE is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ASLE vs VXZ: side by side
| ASLE (AerSale Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -35.6% | -16.1% |
| 5-year return | -57.7% | -53.1% |
| Volatility (ann.) | 48.5% | 25.6% |
| Beta vs S&P 500 | 0.91 | -1.31 |
| Max drawdown (3Y) | -72.2% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASLE | VXZ |
|---|---|---|
| 2022 | -8.6% | +0.5% |
| 2023 | -21.7% | -44.0% |
| 2024 | -50.4% | -12.7% |
| 2025 | +12.9% | +5.7% |
| 2026 | -20.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASLE and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between ASLE and VXZ?
The ASLE/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.54, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ASLE?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/asle-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asle-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASLE correlations · VXZ correlations
