BKNG vs VXX: Correlation
Booking Holdings (BKNG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and VXX?
Over the past 3 years, BKNG and VXX moved with a correlation of -0.46, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.25) runs above the 3-year figure (-0.46). Over 5 years the correlation is -0.46, and the annualized covariance of weekly returns is -823.2 %².
Out of 39 assets tracked against BKNG, VXX lands near the bottom at #37. Correlation aside, the last 12 months split them widely, with BKNG ahead by 40.6 points (-9.1% versus -49.7%). Note the risk asymmetry: VXX runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BKNG vs VXX: side by side
| BKNG (Booking Holdings) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.1% | -49.7% |
| 5-year return | +127.1% | -95.6% |
| Volatility (ann.) | 29.1% | 60.9% |
| Beta vs S&P 500 | 1.11 | -3.31 |
| Max drawdown (3Y) | -33.4% | -83.3% |
| Market cap | $152.2B | – |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 0.77% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | BKNG | VXX |
|---|---|---|
| 2022 | -16.0% | -23.8% |
| 2023 | +76.0% | -72.5% |
| 2024 | +41.3% | -26.2% |
| 2025 | +8.6% | -42.2% |
| 2026 | -5.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKNG 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 BKNG and VXX?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.25 over the last year and -0.46 over 5 years.
Is VXX a good diversifier for BKNG?
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?
On the −1 to +1 scale, -0.46 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/bkng-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkng-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BKNG correlations · VXX correlations
