GD vs VXX: Correlation
How closely do General Dynamics (GD) 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 -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GD and VXX?
Across a 3-year window, the weekly returns of GD and VXX correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives -0.26, with an annualized covariance of -312.9 %².
VXX is close to the least connected end of GD's tracked universe, ranking #28 of 30. The last year tells two different stories: GD led by 68.5 percentage points, +18.8% for GD against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.9 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.
GD vs VXX: side by side
| GD (General Dynamics) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +18.8% | -49.7% |
| 5-year return | +111.9% | -95.6% |
| Volatility (ann.) | 21.1% | 60.9% |
| Beta vs S&P 500 | 0.52 | -3.31 |
| Max drawdown (3Y) | -22.5% | -83.3% |
| Market cap | $102.8B | – |
| P/E (trailing) | 23.3 | – |
| Dividend yield | 1.62% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | GD | VXX |
|---|---|---|
| 2022 | +21.7% | -23.8% |
| 2023 | +7.1% | -72.5% |
| 2024 | +3.5% | -26.2% |
| 2025 | +30.4% | -42.2% |
| 2026 | +14.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GD and VXX good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GD and VXX?
As of 2026-08-27, the correlation of weekly returns between GD and VXX is -0.24 over 3 years, -0.21 over 1 year and -0.26 over 5 years.
Is VXX a good diversifier for GD?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/gd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GD correlations · VXX correlations
