ALGT vs VXX: Correlation
Measured on weekly returns over the past three years, Allegiant Travel Company (ALGT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALGT and VXX?
Across a 3-year window, the weekly returns of ALGT and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.43 over 1 year against -0.35 over 3. Stretching to 5 years gives -0.38, with an annualized covariance of -1251.5 %².
Among the 15 assets we track against ALGT, VXX sits near the bottom by co-movement, at rank #15. The last year tells two different stories: ALGT led by 78.2 percentage points, +28.5% for ALGT against -49.7% for VXX.
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.
ALGT vs VXX: side by side
| ALGT (Allegiant Travel Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.5% | -49.7% |
| 5-year return | -55.9% | -95.6% |
| Volatility (ann.) | 58.0% | 60.9% |
| Beta vs S&P 500 | 1.36 | -3.31 |
| Max drawdown (3Y) | -61.2% | -83.3% |
| Market cap | $2.2B | – |
| P/E (trailing) | 71.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALGT | VXX |
|---|---|---|
| 2022 | -63.6% | -23.8% |
| 2023 | +23.4% | -72.5% |
| 2024 | +16.0% | -26.2% |
| 2025 | -9.4% | -42.2% |
| 2026 | -5.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALGT and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALGT and VXX?
The ALGT/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.43, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ALGT?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 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/algt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/algt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALGT correlations · VXX correlations
