PAMT vs VXZ: Correlation
How closely do PAMT CORP (PAMT) 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 -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAMT and VXZ?
Across a 3-year window, the weekly returns of PAMT and VXZ correlate at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.30, with an annualized covariance of -408.9 %².
VXZ is close to the least connected end of PAMT's tracked universe, ranking #10 of 10. Over the last 12 months PAMT came out ahead by 10.2 percentage points (-5.9% against -16.1%). Note the risk asymmetry: PAMT runs 2.1 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.
PAMT vs VXZ: side by side
| PAMT (PAMT CORP) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.9% | -16.1% |
| 5-year return | -27.0% | -53.1% |
| Volatility (ann.) | 55.0% | 25.6% |
| Beta vs S&P 500 | 0.79 | -1.31 |
| Max drawdown (3Y) | -67.8% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAMT | VXZ |
|---|---|---|
| 2022 | -27.1% | +0.5% |
| 2023 | -19.8% | -44.0% |
| 2024 | -21.2% | -12.7% |
| 2025 | -26.3% | +5.7% |
| 2026 | -0.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAMT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, PAMT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PAMT and VXZ?
As of 2026-08-27, the correlation of weekly returns between PAMT and VXZ is -0.29 over 3 years, -0.23 over 1 year and -0.30 over 5 years.
Is VXZ a good diversifier for PAMT?
Yes. With a correlation of -0.29, PAMT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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/pamt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pamt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PAMT correlations · VXZ correlations
