DOX vs VXZ: Correlation
Amdocs Limited (DOX) 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 -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOX and VXZ?
On 3 years of weekly data the DOX/VXZ correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.28 over 3. The 5-year figure is -0.31, and annualized covariance runs at -151.4 %².
Among the 22 assets we track against DOX, VXZ sits near the bottom by co-movement, at rank #22. Over the last 12 months VXZ came out ahead by 9.5 percentage points (-25.6% against -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.
DOX vs VXZ: side by side
| DOX (Amdocs Limited) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -25.6% | -16.1% |
| 5-year return | -8.4% | -53.1% |
| Volatility (ann.) | 21.3% | 25.6% |
| Beta vs S&P 500 | 0.54 | -1.31 |
| Max drawdown (3Y) | -45.5% | -36.4% |
| Market cap | $6.5B | – |
| P/E (trailing) | 14.8 | – |
| Dividend yield | 3.52% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DOX | VXZ |
|---|---|---|
| 2022 | +23.8% | +0.5% |
| 2023 | -1.4% | -44.0% |
| 2024 | -0.9% | -12.7% |
| 2025 | -3.1% | +5.7% |
| 2026 | -20.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, DOX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DOX and VXZ?
As of 2026-08-27, the correlation of weekly returns between DOX and VXZ is -0.28 over 3 years, -0.27 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for DOX?
Yes. With a correlation of -0.28, DOX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/dox-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dox-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOX correlations · VXZ correlations
