ALC vs VXX: Correlation
Measured on weekly returns over the past three years, Alcon Inc. (ALC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALC and VXX?
Across a 3-year window, the weekly returns of ALC and VXX correlate at -0.36, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Stretching to 5 years gives -0.39, with an annualized covariance of -570.0 %².
Among the 13 assets we track against ALC, VXX sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months ALC outperformed by 38.9 percentage points (-10.8% for ALC against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.3 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.
ALC vs VXX: side by side
| ALC (Alcon Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -10.8% | -49.7% |
| 5-year return | -10.3% | -95.6% |
| Volatility (ann.) | 26.0% | 60.9% |
| Beta vs S&P 500 | 0.77 | -3.31 |
| Max drawdown (3Y) | -37.9% | -83.3% |
| Market cap | $34.9B | – |
| P/E (trailing) | 55.6 | – |
| Dividend yield | 0.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALC | VXX |
|---|---|---|
| 2022 | -21.1% | -23.8% |
| 2023 | +14.3% | -72.5% |
| 2024 | +9.0% | -26.2% |
| 2025 | -6.8% | -42.2% |
| 2026 | -7.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALC and VXX good diversifiers for each other?
Yes. With a correlation of -0.36, ALC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALC and VXX?
The ALC/VXX correlation stands at -0.36 on a 3-year window (1 year: -0.31, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ALC?
Yes. With a correlation of -0.36, ALC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
A reading of -0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALC correlations · VXX correlations
