BORR vs VXX: Correlation
How closely do Borr Drilling Limited (BORR) 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 -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BORR and VXX?
Over the past 3 years, BORR and VXX moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.29). Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -1020.0 %².
Out of 12 assets tracked against BORR, VXX lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with BORR ahead by 104.6 points (+54.9% versus -49.7%).
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.
BORR vs VXX: side by side
| BORR (Borr Drilling Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +54.9% | -49.7% |
| 5-year return | +246.5% | -95.6% |
| Volatility (ann.) | 58.6% | 60.9% |
| Beta vs S&P 500 | 1.05 | -3.31 |
| Max drawdown (3Y) | -77.1% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BORR | VXX |
|---|---|---|
| 2022 | +141.3% | -23.8% |
| 2023 | +48.1% | -72.5% |
| 2024 | -43.3% | -26.2% |
| 2025 | +4.2% | -42.2% |
| 2026 | +12.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BORR and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between BORR and VXX?
The BORR/VXX correlation stands at -0.29 on a 3-year window (1 year: -0.10, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BORR?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/borr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/borr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BORR correlations · VXX correlations
