BKR vs VXX: Correlation
How closely do Baker Hughes (BKR) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKR and VXX?
Over the past 3 years, BKR and VXX moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.30). Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -592.8 %².
VXX is close to the least connected end of BKR's tracked universe, ranking #30 of 30. The last year tells two different stories: BKR led by 90.6 percentage points, +40.9% for BKR against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.9 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.
BKR vs VXX: side by side
| BKR (Baker Hughes) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +40.9% | -49.7% |
| 5-year return | +205.5% | -95.6% |
| Volatility (ann.) | 32.2% | 60.9% |
| Beta vs S&P 500 | 0.61 | -3.31 |
| Max drawdown (3Y) | -28.0% | -83.3% |
| Market cap | $61.7B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.48% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | BKR | VXX |
|---|---|---|
| 2022 | +26.0% | -23.8% |
| 2023 | +18.6% | -72.5% |
| 2024 | +23.1% | -26.2% |
| 2025 | +13.4% | -42.2% |
| 2026 | +37.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKR and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between BKR and VXX?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.08 over the last year and -0.26 over 5 years.
Is VXX a good diversifier for BKR?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 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/bkr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BKR correlations · VXX correlations
