ARAY vs VXX: Correlation
Accuray Incorporated (ARAY) 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 -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARAY and VXX?
On 3 years of weekly data the ARAY/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.23) runs above the 3-year figure (-0.37). The 5-year figure is -0.33, and annualized covariance runs at -1652.0 %².
Among the 10 assets we track against ARAY, VXX sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months VXX outperformed by 33.6 percentage points (-83.3% for ARAY 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.
ARAY vs VXX: side by side
| ARAY (Accuray Incorporated) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -83.3% | -49.7% |
| 5-year return | -93.4% | -95.6% |
| Volatility (ann.) | 73.2% | 60.9% |
| Beta vs S&P 500 | 1.77 | -3.31 |
| Max drawdown (3Y) | -92.5% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARAY | VXX |
|---|---|---|
| 2022 | -56.2% | -23.8% |
| 2023 | +35.4% | -72.5% |
| 2024 | -30.0% | -26.2% |
| 2025 | -58.6% | -42.2% |
| 2026 | -68.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARAY and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARAY and VXX?
As of 2026-08-27, the correlation of weekly returns between ARAY and VXX is -0.37 over 3 years, -0.23 over 1 year and -0.33 over 5 years.
Is VXX a good diversifier for ARAY?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 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/aray-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aray-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARAY correlations · VXX correlations
