AXTI vs VXZ: Correlation
Measured on weekly returns over the past three years, AXT Inc (AXTI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTI and VXZ?
Over the past 3 years, AXTI and VXZ moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.25). Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -698.4 %².
VXZ is close to the least connected end of AXTI's tracked universe, ranking #9 of 10. Correlation aside, the last 12 months split them widely, with AXTI ahead by 2247.8 points (+2231.7% versus -16.1%). Note the risk asymmetry: AXTI runs 4.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AXTI vs VXZ: side by side
| AXTI (AXT Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2231.7% | -16.1% |
| 5-year return | +615.0% | -53.1% |
| Volatility (ann.) | 109.1% | 25.6% |
| Beta vs S&P 500 | 2.64 | -1.31 |
| Max drawdown (3Y) | -78.5% | -36.4% |
| Market cap | $4.4B | – |
| P/E (trailing) | 2230.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXTI | VXZ |
|---|---|---|
| 2022 | -50.3% | +0.5% |
| 2023 | -45.2% | -44.0% |
| 2024 | -9.6% | -12.7% |
| 2025 | +653.5% | +5.7% |
| 2026 | +309.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTI and VXZ good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AXTI and VXZ?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.08 over the last year and -0.29 over 5 years.
Is VXZ a good diversifier for AXTI?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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/axti-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axti-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXTI correlations · VXZ correlations
