GEF vs VXX: Correlation
How closely do Greif Inc. (GEF) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEF and VXX?
Across a 3-year window, the weekly returns of GEF and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.19) than the 3-year average (-0.35). Stretching to 5 years gives -0.34, with an annualized covariance of -600.0 %².
VXX is close to the least connected end of GEF's tracked universe, ranking #15 of 16. Correlation aside, the last 12 months split them widely, with GEF ahead by 82.6 points (+32.9% versus -49.7%). One caveat on sizing: VXX is 2.2 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.
GEF vs VXX: side by side
| GEF (Greif Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.9% | -49.7% |
| 5-year return | +58.9% | -95.6% |
| Volatility (ann.) | 27.9% | 60.9% |
| Beta vs S&P 500 | 0.71 | -3.31 |
| Max drawdown (3Y) | -30.8% | -83.3% |
| Market cap | $4.8B | – |
| P/E (trailing) | 34.9 | – |
| Dividend yield | 4.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GEF | VXX |
|---|---|---|
| 2022 | +14.5% | -23.8% |
| 2023 | +0.9% | -72.5% |
| 2024 | -3.6% | -26.2% |
| 2025 | +14.8% | -42.2% |
| 2026 | +27.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GEF and VXX good diversifiers for each other?
Yes. With a correlation of -0.35, GEF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GEF and VXX?
As of 2026-08-27, the correlation of weekly returns between GEF and VXX is -0.35 over 3 years, -0.19 over 1 year and -0.34 over 5 years.
Is VXX a good diversifier for GEF?
Yes. With a correlation of -0.35, GEF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/gef-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gef-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GEF correlations · VXX correlations
