AVGO vs VXZ: Correlation
Measured on weekly returns over the past three years, Broadcom (AVGO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVGO and VXZ?
Across a 3-year window, the weekly returns of AVGO and VXZ correlate at -0.42, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.35 over 1 year against -0.42 over 3. Stretching to 5 years gives -0.44, with an annualized covariance of -552.8 %².
VXZ is close to the least connected end of AVGO's tracked universe, ranking #31 of 33. Correlation aside, the last 12 months split them widely, with AVGO ahead by 40.8 points (+24.7% versus -16.1%). One caveat on sizing: AVGO is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AVGO vs VXZ: side by side
| AVGO (Broadcom) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.7% | -16.1% |
| 5-year return | +718.0% | -53.1% |
| Volatility (ann.) | 51.3% | 25.6% |
| Beta vs S&P 500 | 2.45 | -1.31 |
| Max drawdown (3Y) | -41.1% | -36.4% |
| Market cap | $1,767.6B | – |
| P/E (trailing) | 59.2 | – |
| Dividend yield | 0.71% | – |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | AVGO | VXZ |
|---|---|---|
| 2022 | -13.3% | +0.5% |
| 2023 | +104.2% | -44.0% |
| 2024 | +110.5% | -12.7% |
| 2025 | +50.6% | +5.7% |
| 2026 | +7.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVGO and VXZ good diversifiers for each other?
Yes. With a correlation of -0.42, AVGO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AVGO and VXZ?
The AVGO/VXZ correlation stands at -0.42 on a 3-year window (1 year: -0.35, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AVGO?
Yes. With a correlation of -0.42, AVGO and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 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/avgo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avgo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVGO correlations · VXZ correlations
