EXEL vs VXX: Correlation
How closely do Exelixis, Inc. (EXEL) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXEL and VXX?
Across a 3-year window, the weekly returns of EXEL and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.28 over 3. Stretching to 5 years gives -0.26, with an annualized covariance of -591.7 %².
Out of 11 assets tracked against EXEL, VXX lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months EXEL outperformed by 93.2 percentage points (+43.5% for EXEL against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.8 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.
EXEL vs VXX: side by side
| EXEL (Exelixis, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +43.5% | -49.7% |
| 5-year return | +186.9% | -95.6% |
| Volatility (ann.) | 34.8% | 60.9% |
| Beta vs S&P 500 | 0.78 | -3.31 |
| Max drawdown (3Y) | -25.3% | -83.3% |
| Market cap | $13.7B | – |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXEL | VXX |
|---|---|---|
| 2022 | -12.3% | -23.8% |
| 2023 | +49.6% | -72.5% |
| 2024 | +38.8% | -26.2% |
| 2025 | +31.6% | -42.2% |
| 2026 | +26.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXEL and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, EXEL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXEL and VXX?
The EXEL/VXX correlation stands at -0.28 on a 3-year window (1 year: -0.22, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EXEL?
Yes. With a correlation of -0.28, EXEL 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/exel-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exel-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXEL correlations · VXX correlations
