AVT vs VXX: Correlation
Measured on weekly returns over the past three years, Avnet, Inc. (AVT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVT and VXX?
Across a 3-year window, the weekly returns of AVT and VXX correlate at -0.44, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.30 versus -0.44 over 3 years. Stretching to 5 years gives -0.42, with an annualized covariance of -757.5 %².
VXX is close to the least connected end of AVT's tracked universe, ranking #16 of 16. Correlation aside, the last 12 months split them widely, with AVT ahead by 120.0 points (+70.3% versus -49.7%). Risk is not evenly split, since VXX carries 2.2 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.
AVT vs VXX: side by side
| AVT (Avnet, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +70.3% | -49.7% |
| 5-year return | +153.5% | -95.6% |
| Volatility (ann.) | 28.1% | 60.9% |
| Beta vs S&P 500 | 1.05 | -3.31 |
| Max drawdown (3Y) | -27.1% | -83.3% |
| Market cap | $7.5B | – |
| P/E (trailing) | 22.5 | – |
| Dividend yield | 1.55% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVT | VXX |
|---|---|---|
| 2022 | +3.4% | -23.8% |
| 2023 | +24.4% | -72.5% |
| 2024 | +6.4% | -26.2% |
| 2025 | -5.6% | -42.2% |
| 2026 | +92.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVT and VXX good diversifiers for each other?
Yes. With a correlation of -0.44, AVT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AVT and VXX?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.30 over the last year and -0.42 over 5 years.
Is VXX a good diversifier for AVT?
Yes. With a correlation of -0.44, AVT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/avt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVT correlations · VXX correlations
