AGCO vs VXX: Correlation
How closely do AGCO Corporation (AGCO) 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 -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGCO and VXX?
Over the past 3 years, AGCO and VXX moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.12) than the 3-year average (-0.32). Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -632.2 %².
Out of 15 assets tracked against AGCO, VXX lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months AGCO outperformed by 48.1 percentage points (-1.6% for AGCO against -49.7% for VXX). One caveat on sizing: VXX is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AGCO vs VXX: side by side
| AGCO (AGCO Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.6% | -49.7% |
| 5-year return | -7.9% | -95.6% |
| Volatility (ann.) | 32.5% | 60.9% |
| Beta vs S&P 500 | 0.80 | -3.31 |
| Max drawdown (3Y) | -40.5% | -83.3% |
| Market cap | $7.8B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 1.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGCO | VXX |
|---|---|---|
| 2022 | +25.0% | -23.8% |
| 2023 | -7.9% | -72.5% |
| 2024 | -20.3% | -26.2% |
| 2025 | +12.9% | -42.2% |
| 2026 | +7.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGCO and VXX good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGCO and VXX?
The AGCO/VXX correlation stands at -0.32 on a 3-year window (1 year: -0.12, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AGCO?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agco-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agco-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGCO correlations · VXX correlations
