BWLP vs VXX: Correlation
BW LPG Limited (BWLP) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWLP and VXX?
On 3 years of weekly data the BWLP/VXX correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.27). The 5-year figure is -0.24, and annualized covariance runs at -802.5 %².
VXX is close to the least connected end of BWLP's tracked universe, ranking #9 of 12. The last year tells two different stories: BWLP led by 122.1 percentage points, +72.4% for BWLP 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.
BWLP vs VXX: side by side
| BWLP (BW LPG Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +72.4% | -49.7% |
| 5-year return | +841.4% | -95.6% |
| Volatility (ann.) | 48.8% | 60.9% |
| Beta vs S&P 500 | 0.74 | -3.31 |
| Max drawdown (3Y) | -54.3% | -83.3% |
| Market cap | $3.7B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 7.90% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWLP | VXX |
|---|---|---|
| 2022 | +60.4% | -23.8% |
| 2023 | +157.7% | -72.5% |
| 2024 | -7.2% | -26.2% |
| 2025 | +22.9% | -42.2% |
| 2026 | +99.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWLP and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BWLP and VXX?
As of 2026-08-27, the correlation of weekly returns between BWLP and VXX is -0.27 over 3 years, -0.09 over 1 year and -0.24 over 5 years.
Is VXX a good diversifier for BWLP?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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/bwlp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwlp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BWLP correlations · VXX correlations
