ALDX vs VXX: Correlation
Measured on weekly returns over the past three years, Aldeyra Therapeutics, Inc. (ALDX) 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 ALDX and VXX?
On 3 years of weekly data the ALDX/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. The 5-year figure is -0.33, and annualized covariance runs at -2578.9 %².
Out of 13 assets tracked against ALDX, VXX lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with VXX ahead by 24.0 points (-73.7% versus -49.7%). Risk is not evenly split, since ALDX carries 1.8 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.
ALDX vs VXX: side by side
| ALDX (Aldeyra Therapeutics, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -73.7% | -49.7% |
| 5-year return | -83.1% | -95.6% |
| Volatility (ann.) | 107.4% | 60.9% |
| Beta vs S&P 500 | 3.13 | -3.31 |
| Max drawdown (3Y) | -83.8% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALDX | VXX |
|---|---|---|
| 2022 | +74.0% | -23.8% |
| 2023 | -49.6% | -72.5% |
| 2024 | +42.2% | -26.2% |
| 2025 | +3.8% | -42.2% |
| 2026 | -70.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALDX and VXX good diversifiers for each other?
Yes. With a correlation of -0.39, ALDX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALDX and VXX?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.30 over the last year and -0.33 over 5 years.
Is VXX a good diversifier for ALDX?
Yes. With a correlation of -0.39, ALDX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
A reading of -0.39 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/aldx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aldx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALDX correlations · VXX correlations
