DNOW vs VXX: Correlation
How closely do DNOW Inc. (DNOW) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNOW and VXX?
Over the past 3 years, DNOW and VXX moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.04) runs above the 3-year figure (-0.26). Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -687.3 %².
Among the 10 assets we track against DNOW, VXX sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months DNOW outperformed by 51.8 percentage points (+2.1% for DNOW 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.
DNOW vs VXX: side by side
| DNOW (DNOW Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.1% | -49.7% |
| 5-year return | +111.4% | -95.6% |
| Volatility (ann.) | 43.7% | 60.9% |
| Beta vs S&P 500 | 0.83 | -3.31 |
| Max drawdown (3Y) | -36.8% | -83.3% |
| Market cap | $2.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNOW | VXX |
|---|---|---|
| 2022 | +48.7% | -23.8% |
| 2023 | -10.9% | -72.5% |
| 2024 | +14.9% | -26.2% |
| 2025 | +1.8% | -42.2% |
| 2026 | +22.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNOW and VXX good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DNOW and VXX?
The DNOW/VXX correlation stands at -0.26 on a 3-year window (1 year: -0.04, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for DNOW?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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/dnow-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dnow-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DNOW correlations · VXX correlations
