AS vs VXX: Correlation
How closely do Amer Sports, Inc. (AS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AS and VXX?
On 3 years of weekly data the AS/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.29 over 3 years. The 5-year figure is n/a, and annualized covariance runs at -867.8 %².
Among the 10 assets we track against AS, VXX sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months AS outperformed by 24.0 percentage points (-25.7% for AS 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.
AS vs VXX: side by side
| AS (Amer Sports, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -25.7% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 48.0% | 60.9% |
| Beta vs S&P 500 | 1.18 | -3.31 |
| Max drawdown (3Y) | -40.7% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 31.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AS | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | – | -26.2% |
| 2025 | +33.6% | -42.2% |
| 2026 | -18.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AS and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AS and VXX?
As of 2026-08-27, the correlation of weekly returns between AS and VXX is -0.29 over 3 years, -0.39 over 1 year and n/a over 5 years.
Is VXX a good diversifier for AS?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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/as-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/as-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AS correlations · VXX correlations
