G vs VXX: Correlation
How closely do Genpact Limited (G) 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 -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are G and VXX?
Over the past 3 years, G and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.05) than the 3-year average (-0.27). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -558.7 %².
Out of 13 assets tracked against G, VXX lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with G ahead by 33.6 points (-16.1% versus -49.7%). One caveat on sizing: VXX is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
G vs VXX: side by side
| G (Genpact Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -16.1% | -49.7% |
| 5-year return | -22.8% | -95.6% |
| Volatility (ann.) | 34.0% | 60.9% |
| Beta vs S&P 500 | 0.61 | -3.31 |
| Max drawdown (3Y) | -49.4% | -83.3% |
| Market cap | $6.3B | – |
| P/E (trailing) | 11.0 | – |
| Dividend yield | 1.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | G | VXX |
|---|---|---|
| 2022 | -11.7% | -23.8% |
| 2023 | -24.0% | -72.5% |
| 2024 | +25.8% | -26.2% |
| 2025 | +10.2% | -42.2% |
| 2026 | -18.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are G and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between G and VXX?
As of 2026-08-27, the correlation of weekly returns between G and VXX is -0.27 over 3 years, -0.05 over 1 year and -0.33 over 5 years.
Is VXX a good diversifier for G?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/g-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/g-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: G correlations · VXX correlations
