ATI vs VXZ: Correlation
How closely do ATI Inc. (ATI) 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 -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATI and VXZ?
Across a 3-year window, the weekly returns of ATI and VXZ correlate at -0.46, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.33) than the 3-year average (-0.46). Stretching to 5 years gives -0.45, with an annualized covariance of -504.5 %².
Among the 12 assets we track against ATI, VXZ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: ATI led by 195.6 percentage points, +179.5% for ATI against -16.1% for VXZ. Risk is not evenly split, since ATI carries 1.7 times the volatility of the other side.
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.
ATI vs VXZ: side by side
| ATI (ATI Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +179.5% | -16.1% |
| 5-year return | +1095.8% | -53.1% |
| Volatility (ann.) | 43.3% | 25.6% |
| Beta vs S&P 500 | 1.59 | -1.31 |
| Max drawdown (3Y) | -38.0% | -36.4% |
| Market cap | $29.2B | – |
| P/E (trailing) | 62.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATI | VXZ |
|---|---|---|
| 2022 | +87.4% | +0.5% |
| 2023 | +52.3% | -44.0% |
| 2024 | +21.0% | -12.7% |
| 2025 | +108.5% | +5.7% |
| 2026 | +86.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.46, ATI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ATI and VXZ?
As of 2026-08-27, the correlation of weekly returns between ATI and VXZ is -0.46 over 3 years, -0.33 over 1 year and -0.45 over 5 years.
Is VXZ a good diversifier for ATI?
Yes. With a correlation of -0.46, ATI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.46 mean?
A reading of -0.46 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/ati-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ati-vs-vxz/)
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Related comparisons
Hubs: ATI correlations · VXZ correlations
