GLUE vs VXX: Correlation
How closely do Monte Rosa Therapeutics, Inc. (GLUE) 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 -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLUE and VXX?
Across a 3-year window, the weekly returns of GLUE and VXX correlate at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.03) runs above the 3-year figure (-0.23). Stretching to 5 years gives -0.23, with an annualized covariance of -1439.6 %².
Among the 16 assets we track against GLUE, VXX sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with GLUE ahead by 256.3 points (+206.6% versus -49.7%). Note the risk asymmetry: GLUE runs 1.7 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.
GLUE vs VXX: side by side
| GLUE (Monte Rosa Therapeutics, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +206.6% | -49.7% |
| 5-year return | -61.7% | -95.6% |
| Volatility (ann.) | 104.5% | 60.9% |
| Beta vs S&P 500 | 1.91 | -3.31 |
| Max drawdown (3Y) | -64.3% | -83.3% |
| Market cap | $1.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GLUE | VXX |
|---|---|---|
| 2022 | -62.7% | -23.8% |
| 2023 | -25.8% | -72.5% |
| 2024 | +22.8% | -26.2% |
| 2025 | +125.9% | -42.2% |
| 2026 | -8.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLUE and VXX good diversifiers for each other?
Yes. With a correlation of -0.23, GLUE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GLUE and VXX?
The GLUE/VXX correlation stands at -0.23 on a 3-year window (1 year: -0.03, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for GLUE?
Yes. With a correlation of -0.23, GLUE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/glue-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/glue-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GLUE correlations · VXX correlations
