ATLO vs VXZ: Correlation
Ames National Corporation (ATLO) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATLO and VXZ?
On 3 years of weekly data the ATLO/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.42 over 3 years. The 5-year figure is -0.40, and annualized covariance runs at -282.3 %².
Out of 11 assets tracked against ATLO, VXZ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months ATLO outperformed by 79.6 percentage points (+63.5% for ATLO 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.
ATLO vs VXZ: side by side
| ATLO (Ames National Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +63.5% | -16.1% |
| 5-year return | +67.0% | -53.1% |
| Volatility (ann.) | 26.4% | 25.6% |
| Beta vs S&P 500 | 0.51 | -1.31 |
| Max drawdown (3Y) | -25.4% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.1 | – |
| Dividend yield | 2.81% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATLO | VXZ |
|---|---|---|
| 2022 | +1.0% | +0.5% |
| 2023 | -4.5% | -44.0% |
| 2024 | -19.0% | -12.7% |
| 2025 | +45.7% | +5.7% |
| 2026 | +39.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATLO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between ATLO and VXZ?
As of 2026-08-27, the correlation of weekly returns between ATLO and VXZ is -0.42 over 3 years, -0.16 over 1 year and -0.40 over 5 years.
Is VXZ a good diversifier for ATLO?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
A reading of -0.42 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/atlo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atlo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATLO correlations · VXZ correlations
