AZ vs VXZ: Correlation
A2Z Cust2Mate Solutions Corp. (AZ) 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 -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZ and VXZ?
Over the past 3 years, AZ and VXZ moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.18). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -451.8 %².
VXZ is close to the least connected end of AZ's tracked universe, ranking #10 of 11. On 12-month performance VXZ holds a 9.4-point edge, -25.5% against -16.1%. One caveat on sizing: AZ is 3.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AZ vs VXZ: side by side
| AZ (A2Z Cust2Mate Solutions Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -25.5% | -16.1% |
| 5-year return | -49.4% | -53.1% |
| Volatility (ann.) | 97.5% | 25.6% |
| Beta vs S&P 500 | 1.35 | -1.31 |
| Max drawdown (3Y) | -85.0% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AZ | VXZ |
|---|---|---|
| 2022 | -88.3% | +0.5% |
| 2023 | +7.9% | -44.0% |
| 2024 | +93.3% | -12.7% |
| 2025 | -1.7% | +5.7% |
| 2026 | +1.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZ and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between AZ and VXZ?
The AZ/VXZ correlation stands at -0.18 on a 3-year window (1 year: -0.37, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for AZ?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/az-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/az-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AZ correlations · VXZ correlations
