AVT vs VXZ: Correlation
How closely do Avnet, Inc. (AVT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVT and VXZ?
On 3 years of weekly data the AVT/VXZ correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.19 versus -0.37 over 3 years. The 5-year figure is -0.39, and annualized covariance runs at -268.1 %².
VXZ is close to the least connected end of AVT's tracked universe, ranking #15 of 16. Correlation aside, the last 12 months split them widely, with AVT ahead by 86.4 points (+70.3% versus -16.1%).
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 VXZ: side by side
| AVT (Avnet, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +70.3% | -16.1% |
| 5-year return | +153.5% | -53.1% |
| Volatility (ann.) | 28.1% | 25.6% |
| Beta vs S&P 500 | 1.05 | -1.31 |
| Max drawdown (3Y) | -27.1% | -36.4% |
| Market cap | $7.5B | – |
| P/E (trailing) | 22.5 | – |
| Dividend yield | 1.55% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVT | VXZ |
|---|---|---|
| 2022 | +3.4% | +0.5% |
| 2023 | +24.4% | -44.0% |
| 2024 | +6.4% | -12.7% |
| 2025 | -5.6% | +5.7% |
| 2026 | +92.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between AVT and VXZ?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.19 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for AVT?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 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/avt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVT correlations · VXZ correlations
