EXPO vs VXX: Correlation
Measured on weekly returns over the past three years, Exponent, Inc. (EXPO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXPO and VXX?
Across a 3-year window, the weekly returns of EXPO and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.35 over 3 years. Stretching to 5 years gives -0.36, with an annualized covariance of -683.3 %².
Out of 13 assets tracked against EXPO, VXX lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months EXPO outperformed by 48.9 percentage points (-0.8% for EXPO against -49.7% for VXX). Note the risk asymmetry: VXX runs 1.9 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.
EXPO vs VXX: side by side
| EXPO (Exponent, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.8% | -49.7% |
| 5-year return | -35.2% | -95.6% |
| Volatility (ann.) | 31.7% | 60.9% |
| Beta vs S&P 500 | 0.84 | -3.31 |
| Max drawdown (3Y) | -52.4% | -83.3% |
| Market cap | $3.4B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 1.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXPO | VXX |
|---|---|---|
| 2022 | -14.3% | -23.8% |
| 2023 | -10.1% | -72.5% |
| 2024 | +2.4% | -26.2% |
| 2025 | -20.8% | -42.2% |
| 2026 | +3.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXPO and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EXPO and VXX?
The EXPO/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.21, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EXPO?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/expo-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/expo-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXPO correlations · VXX correlations
