ALT vs VXX: Correlation
Altimmune, Inc. (ALT) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALT and VXX?
On 3 years of weekly data the ALT/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. The 5-year figure is -0.22, and annualized covariance runs at -1680.1 %².
Among the 13 assets we track against ALT, VXX sits near the bottom by co-movement, at rank #12. The last year tells two different stories: ALT led by 38.0 percentage points, -11.7% for ALT against -49.7% for VXX. Note the risk asymmetry: ALT 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.
ALT vs VXX: side by side
| ALT (Altimmune, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -11.7% | -49.7% |
| 5-year return | -77.0% | -95.6% |
| Volatility (ann.) | 94.4% | 60.9% |
| Beta vs S&P 500 | 1.91 | -3.31 |
| Max drawdown (3Y) | -81.2% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALT | VXX |
|---|---|---|
| 2022 | +79.6% | -23.8% |
| 2023 | -31.6% | -72.5% |
| 2024 | -35.9% | -26.2% |
| 2025 | -49.9% | -42.2% |
| 2026 | -10.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALT and VXX?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.28 over the last year and -0.22 over 5 years.
Is VXX a good diversifier for ALT?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
A reading of -0.29 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/alt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALT correlations · VXX correlations
