ATMP vs VXZ: Correlation
iPath Select MLP ETN (ATMP) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATMP and VXZ?
Across a 3-year window, the weekly returns of ATMP and VXZ correlate at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.25 versus -0.35 over 3 years. Stretching to 5 years gives -0.33, with an annualized covariance of -151.2 %².
Among the 37 assets we track against ATMP, VXZ sits near the bottom by co-movement, at rank #37. Correlation aside, the last 12 months split them widely, with ATMP ahead by 50.5 points (+34.4% versus -16.1%). Note the risk asymmetry: VXZ 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.
ATMP vs VXZ: side by side
| ATMP (iPath Select MLP ETN) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.4% | -16.1% |
| 5-year return | +216.1% | -53.1% |
| Volatility (ann.) | 17.0% | 25.6% |
| Beta vs S&P 500 | 0.28 | -1.31 |
| Max drawdown (3Y) | -15.6% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATMP | VXZ |
|---|---|---|
| 2022 | +27.5% | +0.5% |
| 2023 | +21.6% | -44.0% |
| 2024 | +38.7% | -12.7% |
| 2025 | +7.0% | +5.7% |
| 2026 | +32.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATMP and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between ATMP and VXZ?
The ATMP/VXZ correlation stands at -0.35 on a 3-year window (1 year: 0.25, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ATMP?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atmp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/atmp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ATMP correlations · VXZ correlations
