ASTL vs VXX: Correlation
How closely do Algoma Steel Group Inc. (ASTL) 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 -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASTL and VXX?
Across a 3-year window, the weekly returns of ASTL and VXX correlate at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Stretching to 5 years gives -0.27, with an annualized covariance of -769.4 %².
VXX is close to the least connected end of ASTL's tracked universe, ranking #9 of 10. The last year tells two different stories: ASTL led by 36.7 percentage points, -13.0% for ASTL 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.
ASTL vs VXX: side by side
| ASTL (Algoma Steel Group Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -13.0% | -49.7% |
| 5-year return | -57.3% | -95.6% |
| Volatility (ann.) | 53.9% | 60.9% |
| Beta vs S&P 500 | 1.08 | -3.31 |
| Max drawdown (3Y) | -72.9% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.02% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASTL | VXX |
|---|---|---|
| 2022 | -39.4% | -23.8% |
| 2023 | +62.5% | -72.5% |
| 2024 | -0.2% | -26.2% |
| 2025 | -57.4% | -42.2% |
| 2026 | +4.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASTL and VXX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ASTL and VXX?
As of 2026-08-27, the correlation of weekly returns between ASTL and VXX is -0.23 over 3 years, -0.24 over 1 year and -0.27 over 5 years.
Is VXX a good diversifier for ASTL?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/astl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/astl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASTL correlations · VXX correlations
