BIRK vs VXX: Correlation
Measured on weekly returns over the past three years, Birkenstock Holding plc (BIRK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIRK and VXX?
Over the past 3 years, BIRK and VXX moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -865.4 %².
Out of 15 assets tracked against BIRK, VXX lands near the bottom at #15. The last year tells two different stories: BIRK led by 17.4 percentage points, -32.3% for BIRK 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.
BIRK vs VXX: side by side
| BIRK (Birkenstock Holding plc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -32.3% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 45.5% | 60.9% |
| Beta vs S&P 500 | 1.18 | -3.31 |
| Max drawdown (3Y) | -50.9% | -83.3% |
| Market cap | $5.8B | – |
| P/E (trailing) | 17.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIRK | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | +16.3% | -26.2% |
| 2025 | -27.8% | -42.2% |
| 2026 | -13.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIRK and VXX good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BIRK and VXX?
The BIRK/VXX correlation stands at -0.31 on a 3-year window (1 year: -0.33, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BIRK?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/birk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/birk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BIRK correlations · VXX correlations
