ALKS vs VXX: Correlation
Alkermes plc (ALKS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALKS and VXX?
Over the past 3 years, ALKS and VXX moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.07) than the 3-year average (-0.26). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -627.1 %².
Out of 11 assets tracked against ALKS, VXX lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with ALKS ahead by 116.9 points (+67.2% versus -49.7%). Note the risk asymmetry: VXX runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALKS vs VXX: side by side
| ALKS (Alkermes plc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +67.2% | -49.7% |
| 5-year return | +55.7% | -95.6% |
| Volatility (ann.) | 39.0% | 60.9% |
| Beta vs S&P 500 | 0.62 | -3.31 |
| Max drawdown (3Y) | -29.3% | -83.3% |
| Market cap | $8.2B | – |
| P/E (trailing) | 128.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALKS | VXX |
|---|---|---|
| 2022 | +12.3% | -23.8% |
| 2023 | +6.2% | -72.5% |
| 2024 | +3.7% | -26.2% |
| 2025 | -2.7% | -42.2% |
| 2026 | +74.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALKS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALKS and VXX?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.07 over the last year and -0.25 over 5 years.
Is VXX a good diversifier for ALKS?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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/alks-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alks-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALKS correlations · VXX correlations
