AGO vs VXX: Correlation
Measured on weekly returns over the past three years, Assured Guaranty Ltd. (AGO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGO and VXX?
On 3 years of weekly data the AGO/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.11) runs above the 3-year figure (-0.39). The 5-year figure is -0.38, and annualized covariance runs at -506.0 %².
Among the 14 assets we track against AGO, VXX sits near the bottom by co-movement, at rank #13. The last year tells two different stories: AGO led by 43.5 percentage points, -6.2% for AGO against -49.7% for VXX. One caveat on sizing: VXX is 2.8 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.
AGO vs VXX: side by side
| AGO (Assured Guaranty Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.2% | -49.7% |
| 5-year return | +64.9% | -95.6% |
| Volatility (ann.) | 21.4% | 60.9% |
| Beta vs S&P 500 | 0.51 | -3.31 |
| Max drawdown (3Y) | -22.0% | -83.3% |
| Market cap | $3.3B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 1.90% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGO | VXX |
|---|---|---|
| 2022 | +26.2% | -23.8% |
| 2023 | +22.5% | -72.5% |
| 2024 | +22.1% | -26.2% |
| 2025 | +0.6% | -42.2% |
| 2026 | -14.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGO and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between AGO and VXX?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.11 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for AGO?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 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/ago-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ago-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGO correlations · VXX correlations
