GJP vs VXX: Correlation
Measured on weekly returns over the past three years, Synthetic Fixed-Income Securities, Inc. on behalf of STRATS (GJP) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GJP and VXX?
Across a 3-year window, the weekly returns of GJP and VXX correlate at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.06 versus -0.18 over 3 years. Stretching to 5 years gives -0.07, with an annualized covariance of -113.8 %².
VXX is close to the least connected end of GJP's tracked universe, ranking #9 of 11. Correlation aside, the last 12 months split them widely, with GJP ahead by 55.3 points (+5.6% versus -49.7%). One caveat on sizing: VXX is 5.9 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.
GJP vs VXX: side by side
| GJP (Synthetic Fixed-Income Securities, Inc. on behalf of STRATS) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.6% | -49.7% |
| 5-year return | +30.4% | -95.6% |
| Volatility (ann.) | 10.3% | 60.9% |
| Beta vs S&P 500 | 0.13 | -3.31 |
| Max drawdown (3Y) | -5.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GJP | VXX |
|---|---|---|
| 2022 | +4.2% | -23.8% |
| 2023 | +7.1% | -72.5% |
| 2024 | +7.2% | -26.2% |
| 2025 | +5.2% | -42.2% |
| 2026 | +2.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GJP and VXX good diversifiers for each other?
Yes. With a correlation of -0.18, GJP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GJP and VXX?
The GJP/VXX correlation stands at -0.18 on a 3-year window (1 year: -0.06, 5 years: -0.07), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for GJP?
Yes. With a correlation of -0.18, GJP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 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/gjp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gjp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GJP correlations · VXX correlations
