ASML vs VXZ: Correlation
How closely do ASML Holding N.V. - New York Registry Shares (ASML) 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 -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASML and VXZ?
On 3 years of weekly data the ASML/VXZ correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.45, and annualized covariance runs at -401.3 %².
VXZ is close to the least connected end of ASML's tracked universe, ranking #8 of 10. Their recent paths diverged sharply: over the last 12 months ASML outperformed by 142.9 percentage points (+126.8% for ASML against -16.1% for VXZ). Note the risk asymmetry: ASML runs 1.5 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.
ASML vs VXZ: side by side
| ASML (ASML Holding N.V. - New York Registry Shares) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +126.8% | -16.1% |
| 5-year return | +116.6% | -53.1% |
| Volatility (ann.) | 38.6% | 25.6% |
| Beta vs S&P 500 | 1.52 | -1.31 |
| Max drawdown (3Y) | -45.5% | -36.4% |
| Market cap | $666.4B | – |
| P/E (trailing) | 58.5 | – |
| Dividend yield | 0.25% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASML | VXZ |
|---|---|---|
| 2022 | -30.5% | +0.5% |
| 2023 | +39.9% | -44.0% |
| 2024 | -7.7% | -12.7% |
| 2025 | +55.8% | +5.7% |
| 2026 | +63.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASML and VXZ good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ASML and VXZ?
As of 2026-08-27, the correlation of weekly returns between ASML and VXZ is -0.41 over 3 years, -0.33 over 1 year and -0.45 over 5 years.
Is VXZ a good diversifier for ASML?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
A reading of -0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asml-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asml-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASML correlations · VXZ correlations
