ACWI vs VXX: Correlation
How closely do iShares MSCI ACWI ETF (ACWI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.80, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and VXX?
Over the past 3 years, ACWI and VXX moved with a correlation of -0.80, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.80 over 1 year against -0.80 over 3. Over 5 years the correlation is -0.72, and the annualized covariance of weekly returns is -675.1 %².
Among the 119 assets we track against ACWI, VXX sits near the bottom by co-movement, at rank #119. Correlation aside, the last 12 months split them widely, with ACWI ahead by 72.4 points (+22.7% versus -49.7%). Risk is not evenly split, since VXX carries 4.4 times the volatility of the other side.
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.
ACWI vs VXX: side by side
| ACWI (iShares MSCI ACWI ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +22.7% | -49.7% |
| 5-year return | +69.0% | -95.6% |
| Volatility (ann.) | 13.8% | 60.9% |
| Beta vs S&P 500 | 0.92 | -3.31 |
| Max drawdown (3Y) | -16.5% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.44% | 0.00% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
ACWI is a Global Large-Stock Blend fund from iShares: $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | VXX |
|---|---|---|
| 2022 | -18.4% | -23.8% |
| 2023 | +22.3% | -72.5% |
| 2024 | +17.4% | -26.2% |
| 2025 | +22.4% | -42.2% |
| 2026 | +14.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and VXX good diversifiers for each other?
Yes. With a correlation of -0.80, ACWI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ACWI and VXX?
Using weekly returns as of 2026-08-27: -0.80 over 3 years, with -0.80 over the last year and -0.72 over 5 years.
Is VXX a good diversifier for ACWI?
Yes. With a correlation of -0.80, ACWI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.80 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/acwi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acwi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ACWI correlations · VXX correlations
