ARRY vs VXX: Correlation
Measured on weekly returns over the past three years, Array Technologies, Inc. (ARRY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARRY and VXX?
Over the past 3 years, ARRY and VXX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.23 over 3. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -1049.9 %².
Among the 14 assets we track against ARRY, VXX sits near the bottom by co-movement, at rank #14. Neither side won the trailing year by much: -48.3% against -49.7%.
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.
ARRY vs VXX: side by side
| ARRY (Array Technologies, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -48.3% | -49.7% |
| 5-year return | -75.3% | -95.6% |
| Volatility (ann.) | 73.3% | 60.9% |
| Beta vs S&P 500 | 1.37 | -3.31 |
| Max drawdown (3Y) | -84.9% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARRY | VXX |
|---|---|---|
| 2022 | +23.2% | -23.8% |
| 2023 | -13.1% | -72.5% |
| 2024 | -64.0% | -26.2% |
| 2025 | +52.6% | -42.2% |
| 2026 | -49.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARRY and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARRY and VXX?
The ARRY/VXX correlation stands at -0.23 on a 3-year window (1 year: -0.24, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ARRY?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/arry-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arry-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARRY correlations · VXX correlations
