DSX vs VXX: Correlation
How closely do Diana Shipping inc. (DSX) 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 -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DSX and VXX?
Over the past 3 years, DSX and VXX moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -779.9 %².
VXX is close to the least connected end of DSX's tracked universe, ranking #13 of 13. Correlation aside, the last 12 months split them widely, with DSX ahead by 115.7 points (+66.0% versus -49.7%). 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.
DSX vs VXX: side by side
| DSX (Diana Shipping inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +66.0% | -49.7% |
| 5-year return | -10.5% | -95.6% |
| Volatility (ann.) | 38.7% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -60.1% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 1.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DSX | VXX |
|---|---|---|
| 2022 | +18.2% | -23.8% |
| 2023 | -15.0% | -72.5% |
| 2024 | -28.1% | -26.2% |
| 2025 | -13.7% | -42.2% |
| 2026 | +64.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DSX and VXX good diversifiers for each other?
Yes. With a correlation of -0.33, DSX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DSX and VXX?
As of 2026-08-27, the correlation of weekly returns between DSX and VXX is -0.33 over 3 years, -0.26 over 1 year and -0.23 over 5 years.
Is VXX a good diversifier for DSX?
Yes. With a correlation of -0.33, DSX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
A reading of -0.33 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/dsx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dsx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DSX correlations · VXX correlations
