AVY vs VXX: Correlation
Measured on weekly returns over the past three years, Avery Dennison (AVY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and VXX?
Across a 3-year window, the weekly returns of AVY and VXX correlate at -0.41, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. Stretching to 5 years gives -0.43, with an annualized covariance of -501.5 %².
VXX is close to the least connected end of AVY's tracked universe, ranking #38 of 38. The last year tells two different stories: AVY led by 55.0 percentage points, +5.3% for AVY against -49.7% for VXX. One caveat on sizing: VXX is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AVY vs VXX: side by side
| AVY (Avery Dennison) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.3% | -49.7% |
| 5-year return | -14.0% | -95.6% |
| Volatility (ann.) | 20.2% | 60.9% |
| Beta vs S&P 500 | 0.61 | -3.31 |
| Max drawdown (3Y) | -30.6% | -83.3% |
| Market cap | $13.5B | – |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 2.10% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | AVY | VXX |
|---|---|---|
| 2022 | -15.1% | -23.8% |
| 2023 | +13.7% | -72.5% |
| 2024 | -5.9% | -26.2% |
| 2025 | -0.7% | -42.2% |
| 2026 | -0.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between AVY and VXX?
As of 2026-08-27, the correlation of weekly returns between AVY and VXX is -0.41 over 3 years, -0.41 over 1 year and -0.43 over 5 years.
Is VXX a good diversifier for AVY?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 mean?
A reading of -0.41 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/avy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVY correlations · VXX correlations
