AVNT vs VXZ: Correlation
Measured on weekly returns over the past three years, Avient Corporation (AVNT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVNT and VXZ?
Over the past 3 years, AVNT and VXZ moved with a correlation of -0.49, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.32 versus -0.49 over 3 years. Over 5 years the correlation is -0.48, and the annualized covariance of weekly returns is -461.1 %².
Out of 35 assets tracked against AVNT, VXZ lands near the bottom at #34. Their recent paths diverged sharply: over the last 12 months AVNT outperformed by 37.8 percentage points (+21.7% for AVNT 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.
AVNT vs VXZ: side by side
| AVNT (Avient Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.7% | -16.1% |
| 5-year return | -3.6% | -53.1% |
| Volatility (ann.) | 36.9% | 25.6% |
| Beta vs S&P 500 | 1.33 | -1.31 |
| Max drawdown (3Y) | -46.9% | -36.4% |
| Market cap | $4.1B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 2.45% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVNT | VXZ |
|---|---|---|
| 2022 | -38.2% | +0.5% |
| 2023 | +26.4% | -44.0% |
| 2024 | +0.6% | -12.7% |
| 2025 | -21.2% | +5.7% |
| 2026 | +43.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVNT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
FAQ
What is the correlation between AVNT and VXZ?
The AVNT/VXZ correlation stands at -0.49 on a 3-year window (1 year: -0.32, 5 years: -0.48), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AVNT?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
What does a correlation of -0.49 mean?
A reading of -0.49 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/avnt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avnt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVNT correlations · VXZ correlations
