CAR vs VXX: Correlation
Avis Budget Group, Inc. (CAR) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAR and VXX?
On 3 years of weekly data the CAR/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. The 5-year figure is -0.28, and annualized covariance runs at -1565.9 %².
VXX is close to the least connected end of CAR's tracked universe, ranking #10 of 10. Correlation aside, the last 12 months split them widely, with CAR ahead by 38.6 points (-11.1% 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.
CAR vs VXX: side by side
| CAR (Avis Budget Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -11.1% | -49.7% |
| 5-year return | +63.5% | -95.6% |
| Volatility (ann.) | 89.7% | 60.9% |
| Beta vs S&P 500 | 1.84 | -3.31 |
| Max drawdown (3Y) | -80.8% | -83.3% |
| Market cap | $4.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAR | VXX |
|---|---|---|
| 2022 | -20.9% | -23.8% |
| 2023 | +13.8% | -72.5% |
| 2024 | -54.5% | -26.2% |
| 2025 | +59.2% | -42.2% |
| 2026 | +8.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAR 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 CAR and VXX?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.20 over the last year and -0.28 over 5 years.
Is VXX a good diversifier for CAR?
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?
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/car-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/car-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAR correlations · VXX correlations
