AXP vs VXZ: Correlation
American Express (AXP) 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 -0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXP and VXZ?
Across a 3-year window, the weekly returns of AXP and VXZ correlate at -0.62, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.52 over 1 year against -0.62 over 3. Stretching to 5 years gives -0.62, with an annualized covariance of -422.0 %².
Among the 35 assets we track against AXP, VXZ sits near the bottom by co-movement, at rank #35. The last year tells two different stories: AXP led by 20.8 percentage points, +4.7% for AXP 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.
AXP vs VXZ: side by side
| AXP (American Express) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.7% | -16.1% |
| 5-year return | +116.2% | -53.1% |
| Volatility (ann.) | 26.6% | 25.6% |
| Beta vs S&P 500 | 1.20 | -1.31 |
| Max drawdown (3Y) | -28.8% | -36.4% |
| Market cap | $225.7B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 1.05% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AXP | VXZ |
|---|---|---|
| 2022 | -8.5% | +0.5% |
| 2023 | +28.7% | -44.0% |
| 2024 | +60.3% | -12.7% |
| 2025 | +26.0% | +5.7% |
| 2026 | -8.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXP and VXZ good diversifiers for each other?
Yes. With a correlation of -0.62, AXP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AXP and VXZ?
The AXP/VXZ correlation stands at -0.62 on a 3-year window (1 year: -0.52, 5 years: -0.62), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AXP?
Yes. With a correlation of -0.62, AXP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.62 mean?
A reading of -0.62 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/axp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXP correlations · VXZ correlations
