AXP vs VXX: Correlation
How closely do American Express (AXP) 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 -0.60, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXP and VXX?
Over the past 3 years, AXP and VXX moved with a correlation of -0.60, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.47 versus -0.60 over 3 years. Over 5 years the correlation is -0.56, and the annualized covariance of weekly returns is -975.5 %².
Among the 35 assets we track against AXP, VXX sits near the bottom by co-movement, at rank #34. Correlation aside, the last 12 months split them widely, with AXP ahead by 54.4 points (+4.7% versus -49.7%). One caveat on sizing: VXX is 2.3 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.
AXP vs VXX: side by side
| AXP (American Express) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.7% | -49.7% |
| 5-year return | +116.2% | -95.6% |
| Volatility (ann.) | 26.6% | 60.9% |
| Beta vs S&P 500 | 1.20 | -3.31 |
| Max drawdown (3Y) | -28.8% | -83.3% |
| Market cap | $225.7B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 1.05% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AXP | VXX |
|---|---|---|
| 2022 | -8.5% | -23.8% |
| 2023 | +28.7% | -72.5% |
| 2024 | +60.3% | -26.2% |
| 2025 | +26.0% | -42.2% |
| 2026 | -8.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXP and VXX good diversifiers for each other?
Yes: at -0.60, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AXP and VXX?
Using weekly returns as of 2026-08-27: -0.60 over 3 years, with -0.47 over the last year and -0.56 over 5 years.
Is VXX a good diversifier for AXP?
Yes: at -0.60, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.60 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/axp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXP correlations · VXX correlations
