AXSM vs VXX: Correlation
Measured on weekly returns over the past three years, Axsome Therapeutics, Inc. (AXSM) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXSM and VXX?
On 3 years of weekly data the AXSM/VXX correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.34). The 5-year figure is -0.23, and annualized covariance runs at -826.9 %².
Out of 12 assets tracked against AXSM, VXX lands near the bottom at #12. The last year tells two different stories: AXSM led by 119.0 percentage points, +69.3% for AXSM against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.5 times the volatility of the other side.
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.
AXSM vs VXX: side by side
| AXSM (Axsome Therapeutics, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +69.3% | -49.7% |
| 5-year return | +746.1% | -95.6% |
| Volatility (ann.) | 39.4% | 60.9% |
| Beta vs S&P 500 | 0.82 | -3.31 |
| Max drawdown (3Y) | -32.7% | -83.3% |
| Market cap | $10.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXSM | VXX |
|---|---|---|
| 2022 | +104.2% | -23.8% |
| 2023 | +3.2% | -72.5% |
| 2024 | +6.3% | -26.2% |
| 2025 | +115.9% | -42.2% |
| 2026 | +12.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXSM and VXX good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AXSM and VXX?
The AXSM/VXX correlation stands at -0.34 on a 3-year window (1 year: -0.13, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AXSM?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/axsm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axsm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXSM correlations · VXX correlations
