COLM vs VXX: Correlation
How closely do Columbia Sportswear Company (COLM) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COLM and VXX?
On 3 years of weekly data the COLM/VXX correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. The 5-year figure is -0.35, and annualized covariance runs at -579.8 %².
Among the 17 assets we track against COLM, VXX sits near the bottom by co-movement, at rank #17. The last year tells two different stories: COLM led by 54.9 percentage points, +5.2% for COLM against -49.7% for VXX. One caveat on sizing: VXX is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
COLM vs VXX: side by side
| COLM (Columbia Sportswear Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.2% | -49.7% |
| 5-year return | -40.1% | -95.6% |
| Volatility (ann.) | 31.1% | 60.9% |
| Beta vs S&P 500 | 0.58 | -3.31 |
| Max drawdown (3Y) | -46.1% | -83.3% |
| Market cap | $2.9B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 2.06% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COLM | VXX |
|---|---|---|
| 2022 | -8.8% | -23.8% |
| 2023 | -7.8% | -72.5% |
| 2024 | +7.1% | -26.2% |
| 2025 | -33.1% | -42.2% |
| 2026 | +4.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COLM and VXX good diversifiers for each other?
Yes. With a correlation of -0.31, COLM and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between COLM and VXX?
The COLM/VXX correlation stands at -0.31 on a 3-year window (1 year: -0.31, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for COLM?
Yes. With a correlation of -0.31, COLM and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/colm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/colm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COLM correlations · VXX correlations
