AXTA vs VXX: Correlation
Measured on weekly returns over the past three years, Axalta Coating Systems Ltd. (AXTA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.46, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTA and VXX?
On 3 years of weekly data the AXTA/VXX correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.36) than the 3-year average (-0.46). The 5-year figure is -0.51, and annualized covariance runs at -838.2 %².
Out of 17 assets tracked against AXTA, VXX lands near the bottom at #16. Correlation aside, the last 12 months split them widely, with AXTA ahead by 66.3 points (+16.6% versus -49.7%). Risk is not evenly split, since VXX carries 2.0 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.
AXTA vs VXX: side by side
| AXTA (Axalta Coating Systems Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.6% | -49.7% |
| 5-year return | +18.4% | -95.6% |
| Volatility (ann.) | 29.8% | 60.9% |
| Beta vs S&P 500 | 1.01 | -3.31 |
| Max drawdown (3Y) | -38.4% | -83.3% |
| Market cap | $7.9B | – |
| P/E (trailing) | 22.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXTA | VXX |
|---|---|---|
| 2022 | -23.1% | -23.8% |
| 2023 | +33.4% | -72.5% |
| 2024 | +0.7% | -26.2% |
| 2025 | -5.6% | -42.2% |
| 2026 | +13.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTA and VXX good diversifiers for each other?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AXTA and VXX?
The AXTA/VXX correlation stands at -0.46 on a 3-year window (1 year: -0.36, 5 years: -0.51), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AXTA?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.46 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/axta-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axta-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXTA correlations · VXX correlations
