APO vs VXX: Correlation
Apollo Global Management (APO) 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 -0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APO and VXX?
On 3 years of weekly data the APO/VXX correlation comes out at -0.58, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.22) than the 3-year average (-0.58). The 5-year figure is -0.55, and annualized covariance runs at -1297.3 %².
Among the 33 assets we track against APO, VXX sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with APO ahead by 49.6 points (-0.1% versus -49.7%). One caveat on sizing: VXX is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
APO vs VXX: side by side
| APO (Apollo Global Management) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.1% | -49.7% |
| 5-year return | +149.7% | -95.6% |
| Volatility (ann.) | 36.8% | 60.9% |
| Beta vs S&P 500 | 1.62 | -3.31 |
| Max drawdown (3Y) | -42.8% | -83.3% |
| Market cap | $78.8B | – |
| P/E (trailing) | 47.5 | – |
| Dividend yield | 1.60% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | APO | VXX |
|---|---|---|
| 2022 | -9.6% | -23.8% |
| 2023 | +49.4% | -72.5% |
| 2024 | +79.9% | -26.2% |
| 2025 | -11.1% | -42.2% |
| 2026 | -6.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APO and VXX good diversifiers for each other?
Yes: at -0.58, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between APO and VXX?
As of 2026-08-27, the correlation of weekly returns between APO and VXX is -0.58 over 3 years, -0.22 over 1 year and -0.55 over 5 years.
Is VXX a good diversifier for APO?
Yes: at -0.58, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.58 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/apo-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apo-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: APO correlations · VXX correlations
