CHWY vs VXX: Correlation
Chewy, Inc. (CHWY) 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 -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHWY and VXX?
Across a 3-year window, the weekly returns of CHWY and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.28). Stretching to 5 years gives -0.23, with an annualized covariance of -866.6 %².
Out of 11 assets tracked against CHWY, VXX lands near the bottom at #11. Over the last 12 months CHWY came out ahead by 6.1 percentage points (-43.6% against -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.
CHWY vs VXX: side by side
| CHWY (Chewy, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -43.6% | -49.7% |
| 5-year return | -74.7% | -95.6% |
| Volatility (ann.) | 51.6% | 60.9% |
| Beta vs S&P 500 | 1.00 | -3.31 |
| Max drawdown (3Y) | -63.7% | -83.3% |
| Market cap | $9.3B | – |
| P/E (trailing) | 38.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHWY | VXX |
|---|---|---|
| 2022 | -37.1% | -23.8% |
| 2023 | -36.3% | -72.5% |
| 2024 | +41.7% | -26.2% |
| 2025 | -1.3% | -42.2% |
| 2026 | -31.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHWY and VXX good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CHWY and VXX?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.13 over the last year and -0.23 over 5 years.
Is VXX a good diversifier for CHWY?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 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/chwy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chwy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHWY correlations · VXX correlations
