ALG vs VXX: Correlation
How closely do Alamo Group, Inc. (ALG) 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 -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALG and VXX?
Over the past 3 years, ALG and VXX moved with a correlation of -0.45, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.44) sits close to the 3-year figure. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -831.8 %².
Out of 17 assets tracked against ALG, VXX lands near the bottom at #17. Correlation aside, the last 12 months split them widely, with ALG ahead by 25.7 points (-24.0% versus -49.7%). Risk is not evenly split, since VXX carries 2.0 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.
ALG vs VXX: side by side
| ALG (Alamo Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -24.0% | -49.7% |
| 5-year return | +9.2% | -95.6% |
| Volatility (ann.) | 30.3% | 60.9% |
| Beta vs S&P 500 | 0.83 | -3.31 |
| Max drawdown (3Y) | -36.3% | -83.3% |
| Market cap | $2.0B | – |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 0.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALG | VXX |
|---|---|---|
| 2022 | -3.3% | -23.8% |
| 2023 | +49.2% | -72.5% |
| 2024 | -11.1% | -26.2% |
| 2025 | -9.1% | -42.2% |
| 2026 | -1.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALG and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALG and VXX?
As of 2026-08-27, the correlation of weekly returns between ALG and VXX is -0.45 over 3 years, -0.44 over 1 year and -0.43 over 5 years.
Is VXX a good diversifier for ALG?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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/alg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALG correlations · VXX correlations
