ALL vs VXX: Correlation
How closely do Allstate (ALL) 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 -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALL and VXX?
Over the past 3 years, ALL and VXX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.01 versus -0.21 over 3 years. Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -283.2 %².
Among the 32 assets we track against ALL, VXX ranks #26 by 3-year correlation. The last year tells two different stories: ALL led by 78.6 percentage points, +28.9% for ALL against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.8 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.
ALL vs VXX: side by side
| ALL (Allstate) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.9% | -49.7% |
| 5-year return | +114.7% | -95.6% |
| Volatility (ann.) | 22.1% | 60.9% |
| Beta vs S&P 500 | 0.31 | -3.31 |
| Max drawdown (3Y) | -14.1% | -83.3% |
| Market cap | $65.1B | – |
| P/E (trailing) | 5.2 | – |
| Dividend yield | 1.59% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | ALL | VXX |
|---|---|---|
| 2022 | +18.4% | -23.8% |
| 2023 | +6.4% | -72.5% |
| 2024 | +40.6% | -26.2% |
| 2025 | +10.1% | -42.2% |
| 2026 | +25.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALL and VXX good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALL and VXX?
As of 2026-08-27, the correlation of weekly returns between ALL and VXX is -0.21 over 3 years, 0.01 over 1 year and -0.21 over 5 years.
Is VXX a good diversifier for ALL?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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/all-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/all-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALL correlations · VXX correlations
