GL vs VXX: Correlation
Globe Life (GL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GL and VXX?
On 3 years of weekly data the GL/VXX correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. The 5-year figure is -0.29, and annualized covariance runs at -557.6 %².
Within GL's tracked universe of 30 assets, VXX comes in at #21 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GL ahead by 75.8 points (+26.1% versus -49.7%). Risk is not evenly split, since VXX carries 1.7 times the volatility of the other side.
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.
GL vs VXX: side by side
| GL (Globe Life) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.1% | -49.7% |
| 5-year return | +91.0% | -95.6% |
| Volatility (ann.) | 35.7% | 60.9% |
| Beta vs S&P 500 | 0.60 | -3.31 |
| Max drawdown (3Y) | -61.6% | -83.3% |
| Market cap | $13.5B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.68% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | GL | VXX |
|---|---|---|
| 2022 | +29.7% | -23.8% |
| 2023 | +1.8% | -72.5% |
| 2024 | -7.5% | -26.2% |
| 2025 | +26.5% | -42.2% |
| 2026 | +26.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between GL and VXX?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.22 over the last year and -0.29 over 5 years.
Is VXX a good diversifier for GL?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/gl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GL correlations · VXX correlations
