DOW vs VXX: Correlation
Dow Inc. (DOW) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOW and VXX?
Over the past 3 years, DOW and VXX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.05) runs above the 3-year figure (-0.25). Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -536.5 %².
Out of 32 assets tracked against DOW, VXX lands near the bottom at #32. Their recent paths diverged sharply: over the last 12 months DOW outperformed by 78.7 percentage points (+29.0% for DOW against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.7 times the volatility of the other side.
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.
DOW vs VXX: side by side
| DOW (Dow Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.0% | -49.7% |
| 5-year return | -38.4% | -95.6% |
| Volatility (ann.) | 35.2% | 60.9% |
| Beta vs S&P 500 | 0.62 | -3.31 |
| Max drawdown (3Y) | -62.2% | -83.3% |
| Market cap | $21.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.62% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | DOW | VXX |
|---|---|---|
| 2022 | -6.6% | -23.8% |
| 2023 | +14.7% | -72.5% |
| 2024 | -22.8% | -26.2% |
| 2025 | -37.4% | -42.2% |
| 2026 | +32.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOW and VXX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DOW and VXX?
The DOW/VXX correlation stands at -0.25 on a 3-year window (1 year: 0.05, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for DOW?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
A reading of -0.25 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/dow-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dow-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DOW correlations · VXX correlations
