DRS vs VXX: Correlation
Measured on weekly returns over the past three years, Leonardo DRS, Inc. (DRS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DRS and VXX?
Over the past 3 years, DRS and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.28). Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -640.1 %².
VXX is close to the least connected end of DRS's tracked universe, ranking #14 of 14. Their recent paths diverged sharply: over the last 12 months DRS outperformed by 43.1 percentage points (-6.6% for DRS against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.6 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.
DRS vs VXX: side by side
| DRS (Leonardo DRS, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.6% | -49.7% |
| 5-year return | +245.4% | -95.6% |
| Volatility (ann.) | 38.1% | 60.9% |
| Beta vs S&P 500 | 0.96 | -3.31 |
| Max drawdown (3Y) | -32.5% | -83.3% |
| Market cap | $10.4B | – |
| P/E (trailing) | 32.4 | – |
| Dividend yield | 0.93% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DRS | VXX |
|---|---|---|
| 2022 | +35.7% | -23.8% |
| 2023 | +56.8% | -72.5% |
| 2024 | +61.2% | -26.2% |
| 2025 | +6.6% | -42.2% |
| 2026 | +14.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DRS and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, DRS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DRS and VXX?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.10 over the last year and -0.21 over 5 years.
Is VXX a good diversifier for DRS?
Yes. With a correlation of -0.28, DRS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/drs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/drs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DRS correlations · VXX correlations
