EXPD vs VXX: Correlation
Measured on weekly returns over the past three years, Expeditors International (EXPD) 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 EXPD and VXX?
Across a 3-year window, the weekly returns of EXPD and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.15) than the 3-year average (-0.28). Stretching to 5 years gives -0.31, with an annualized covariance of -405.8 %².
Out of 33 assets tracked against EXPD, VXX lands near the bottom at #33. Their recent paths diverged sharply: over the last 12 months EXPD outperformed by 107.2 percentage points (+57.5% for EXPD against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EXPD vs VXX: side by side
| EXPD (Expeditors International) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.5% | -49.7% |
| 5-year return | +60.9% | -95.6% |
| Volatility (ann.) | 24.2% | 60.9% |
| Beta vs S&P 500 | 0.65 | -3.31 |
| Max drawdown (3Y) | -21.3% | -83.3% |
| Market cap | $24.8B | – |
| P/E (trailing) | 27.7 | – |
| Dividend yield | 0.83% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | EXPD | VXX |
|---|---|---|
| 2022 | -21.7% | -23.8% |
| 2023 | +23.9% | -72.5% |
| 2024 | -11.9% | -26.2% |
| 2025 | +36.2% | -42.2% |
| 2026 | +28.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPD and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, EXPD and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXPD and VXX?
As of 2026-08-27, the correlation of weekly returns between EXPD and VXX is -0.28 over 3 years, -0.15 over 1 year and -0.31 over 5 years.
Is VXX a good diversifier for EXPD?
Yes. With a correlation of -0.28, EXPD 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/expd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/expd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXPD correlations · VXX correlations
