ARMP vs VXX: Correlation
Measured on weekly returns over the past three years, Armata Pharmaceuticals, Inc. (ARMP) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARMP and VXX?
Over the past 3 years, ARMP and VXX moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1087.8 %².
Out of 10 assets tracked against ARMP, VXX lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months ARMP outperformed by 172.2 percentage points (+122.5% for ARMP against -49.7% for VXX). Note the risk asymmetry: ARMP 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.
ARMP vs VXX: side by side
| ARMP (Armata Pharmaceuticals, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +122.5% | -49.7% |
| 5-year return | +48.0% | -95.6% |
| Volatility (ann.) | 95.4% | 60.9% |
| Beta vs S&P 500 | 0.63 | -3.31 |
| Max drawdown (3Y) | -78.5% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARMP | VXX |
|---|---|---|
| 2022 | -77.4% | -23.8% |
| 2023 | +161.3% | -72.5% |
| 2024 | -42.9% | -26.2% |
| 2025 | +239.5% | -42.2% |
| 2026 | -13.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARMP and VXX good diversifiers for each other?
Yes. With a correlation of -0.19, ARMP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ARMP and VXX?
As of 2026-08-27, the correlation of weekly returns between ARMP and VXX is -0.19 over 3 years, -0.14 over 1 year and -0.13 over 5 years.
Is VXX a good diversifier for ARMP?
Yes. With a correlation of -0.19, ARMP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/armp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/armp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARMP correlations · VXX correlations
