AES vs VXX: Correlation
AES Corporation (AES) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AES and VXX?
Across a 3-year window, the weekly returns of AES and VXX correlate at -0.37, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.42 over 1 year against -0.37 over 3. Stretching to 5 years gives -0.38, with an annualized covariance of -919.4 %².
VXX is close to the least connected end of AES's tracked universe, ranking #31 of 31. Correlation aside, the last 12 months split them widely, with AES ahead by 65.6 points (+15.9% versus -49.7%). Risk is not evenly split, since VXX carries 1.5 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.
AES vs VXX: side by side
| AES (AES Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.9% | -49.7% |
| 5-year return | -25.1% | -95.6% |
| Volatility (ann.) | 40.5% | 60.9% |
| Beta vs S&P 500 | 0.86 | -3.31 |
| Max drawdown (3Y) | -53.3% | -83.3% |
| Market cap | $10.5B | – |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 4.78% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AES | VXX |
|---|---|---|
| 2022 | +21.7% | -23.8% |
| 2023 | -30.9% | -72.5% |
| 2024 | -30.4% | -26.2% |
| 2025 | +18.3% | -42.2% |
| 2026 | +6.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AES and VXX?
As of 2026-08-27, the correlation of weekly returns between AES and VXX is -0.37 over 3 years, -0.42 over 1 year and -0.38 over 5 years.
Is VXX a good diversifier for AES?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 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/aes-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aes-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AES correlations · VXX correlations
