GNK vs VXX: Correlation
Genco Shipping & Trading Limited (GNK) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNK and VXX?
On 3 years of weekly data the GNK/VXX correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.23) runs above the 3-year figure (-0.36). The 5-year figure is -0.28, and annualized covariance runs at -726.6 %².
VXX is close to the least connected end of GNK's tracked universe, ranking #13 of 13. The last year tells two different stories: GNK led by 113.3 percentage points, +63.6% for GNK against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.8 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.
GNK vs VXX: side by side
| GNK (Genco Shipping & Trading Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +63.6% | -49.7% |
| 5-year return | +93.4% | -95.6% |
| Volatility (ann.) | 33.1% | 60.9% |
| Beta vs S&P 500 | 0.98 | -3.31 |
| Max drawdown (3Y) | -47.1% | -83.3% |
| Market cap | $1.1B | – |
| P/E (trailing) | 28.4 | – |
| Dividend yield | 6.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNK | VXX |
|---|---|---|
| 2022 | +11.4% | -23.8% |
| 2023 | +14.4% | -72.5% |
| 2024 | -8.9% | -26.2% |
| 2025 | +39.1% | -42.2% |
| 2026 | +49.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNK and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between GNK and VXX?
As of 2026-08-27, the correlation of weekly returns between GNK and VXX is -0.36 over 3 years, -0.23 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for GNK?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
A reading of -0.36 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/gnk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gnk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GNK correlations · VXX correlations
