ASTE vs VXZ: Correlation
How closely do Astec Industries, Inc. (ASTE) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTE and VXZ?
On 3 years of weekly data the ASTE/VXZ correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.30). The 5-year figure is -0.40, and annualized covariance runs at -345.8 %².
Among the 13 assets we track against ASTE, VXZ sits near the bottom by co-movement, at rank #12. On 12-month performance ASTE holds a 10.2-point edge, -5.9% against -16.1%. Note the risk asymmetry: ASTE runs 1.8 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.
ASTE vs VXZ: side by side
| ASTE (Astec Industries, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.9% | -16.1% |
| 5-year return | -23.7% | -53.1% |
| Volatility (ann.) | 45.5% | 25.6% |
| Beta vs S&P 500 | 0.95 | -1.31 |
| Max drawdown (3Y) | -47.0% | -36.4% |
| Market cap | $1.0B | – |
| P/E (trailing) | 52.6 | – |
| Dividend yield | 1.18% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTE | VXZ |
|---|---|---|
| 2022 | -40.6% | +0.5% |
| 2023 | -7.3% | -44.0% |
| 2024 | -8.4% | -12.7% |
| 2025 | +30.6% | +5.7% |
| 2026 | +2.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTE and VXZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ASTE and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.40 over the last year and -0.40 over 5 years.
Is VXZ a good diversifier for ASTE?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
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/aste-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aste-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASTE correlations · VXZ correlations
