^VIX vs. AAPL
^VIX (CBOE Volatility Index) is an index, while AAPL (Apple Inc) is a stock. Over the past 10 years, ^VIX returned 3.08%/yr vs 30.30%/yr for AAPL. At a correlation of -0.40, they often move in opposite directions.
Performance
^VIX vs. AAPL - Performance Comparison
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Returns By Period
In the year-to-date period, ^VIX achieves a 14.78% return, which is significantly lower than AAPL's 16.94% return. Over the past 10 years, ^VIX has underperformed AAPL with an annualized return of 3.08%, while AAPL has yielded a comparatively higher 30.30% annualized return.
^VIX
- 1D
- 14.17%
- 1M
- -2.94%
- 6M
- 13.49%
- YTD
- 14.78%
- 1Y
- 4.63%
- 3Y*
- 8.76%
- 5Y*
- 1.00%
- 10Y*
- 3.08%
AAPL
- 1D
- 0.63%
- 1M
- 8.99%
- 6M
- 22.15%
- YTD
- 16.94%
- 1Y
- 50.87%
- 3Y*
- 19.05%
- 5Y*
- 16.89%
- 10Y*
- 30.30%
^VIX vs. AAPL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^VIX CBOE Volatility Index | 14.78% | -13.83% | 39.36% | -42.55% | 25.84% | -24.31% | 65.09% | -45.79% | 130.25% | -21.37% |
AAPL Apple Inc | 16.94% | 9.05% | 30.71% | 49.01% | -26.40% | 34.65% | 82.31% | 88.96% | -5.39% | 48.46% |
Correlation
The correlation between ^VIX and AAPL is -0.43, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.52 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1990 | -0.40 |
The correlation between ^VIX and AAPL shifts across timeframes, from -0.53 (5 years) to -0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
^VIX vs. AAPL — Risk / Return Rank
^VIX
AAPL
^VIX vs. AAPL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for CBOE Volatility Index (^VIX) and Apple Inc (AAPL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^VIX | AAPL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.39 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 3.70 | -3.61 |
| Martin ratioReturn relative to average drawdown | 0.14 | 8.82 | -8.68 |
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Drawdowns
^VIX vs. AAPL - Drawdown Comparison
The maximum ^VIX drawdown since its inception was -88.70%, which is greater than AAPL's maximum drawdown of -81.80%. Use the drawdown chart below to compare losses from any high point for ^VIX and AAPL.
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Drawdown Indicators
| ^VIX | AAPL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.70% | -81.80% | -6.90% |
Max Drawdown (1Y)Largest decline over 1 year | -51.59% | -13.80% | -37.79% |
Max Drawdown (3Y)Largest decline over 3 years | -74.26% | -33.36% | -40.90% |
Max Drawdown (5Y)Largest decline over 5 years | -74.26% | -33.36% | -40.90% |
Max Drawdown (10Y)Largest decline over 10 years | -85.66% | -38.52% | -47.14% |
Current DrawdownCurrent decline from peak | -79.25% | 0.00% | -79.25% |
Average DrawdownAverage peak-to-trough decline | -64.09% | -29.55% | -34.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.36% | 5.78% | +26.58% |
Volatility
^VIX vs. AAPL - Volatility Comparison
CBOE Volatility Index (^VIX) has a higher volatility of 34.86% compared to Apple Inc (AAPL) at 9.95%. This indicates that ^VIX's price experiences larger fluctuations and is considered to be riskier than AAPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^VIX | AAPL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.86% | 9.95% | +24.91% |
Volatility (6M)Calculated over the trailing 6-month period | 92.44% | 18.77% | +73.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 124.55% | 24.11% | +100.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 127.59% | 27.78% | +99.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 136.48% | 29.05% | +107.43% |
Frequently Asked Questions
^VIX and AAPL have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^VIX has higher volatility (34.86%) compared to AAPL (9.95%). In terms of maximum drawdown, ^VIX dropped -88.70% vs AAPL's -81.80%.
AAPL currently has the higher Sharpe Ratio (2.12 vs 0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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