GOOD vs VXX: Correlation
How closely do Gl (GOOD) 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 -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOD and VXX?
On 3 years of weekly data the GOOD/VXX correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.32) runs above the 3-year figure (-0.46). The 5-year figure is -0.41, and annualized covariance runs at -624.0 %².
VXX is close to the least connected end of GOOD's tracked universe, ranking #15 of 16. Their recent paths diverged sharply: over the last 12 months GOOD outperformed by 57.9 percentage points (+8.2% for GOOD against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.7 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.
GOOD vs VXX: side by side
| GOOD (Gl) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.2% | -49.7% |
| 5-year return | -11.7% | -95.6% |
| Volatility (ann.) | 22.3% | 60.9% |
| Beta vs S&P 500 | 0.67 | -3.31 |
| Max drawdown (3Y) | -35.3% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | 51.9 | – |
| Dividend yield | 9.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GOOD | VXX |
|---|---|---|
| 2022 | -22.5% | -23.8% |
| 2023 | -21.6% | -72.5% |
| 2024 | +33.3% | -26.2% |
| 2025 | -28.1% | -42.2% |
| 2026 | +29.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOD and VXX good diversifiers for each other?
Yes. With a correlation of -0.46, GOOD and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GOOD and VXX?
As of 2026-08-27, the correlation of weekly returns between GOOD and VXX is -0.46 over 3 years, -0.32 over 1 year and -0.41 over 5 years.
Is VXX a good diversifier for GOOD?
Yes. With a correlation of -0.46, GOOD and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.46 mean?
A reading of -0.46 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/good-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/good-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GOOD correlations · VXX correlations
