GRMN vs VXX: Correlation
Garmin (GRMN) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRMN and VXX?
Across a 3-year window, the weekly returns of GRMN and VXX correlate at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.27 versus -0.42 over 3 years. Stretching to 5 years gives -0.41, with an annualized covariance of -878.3 %².
VXX is close to the least connected end of GRMN's tracked universe, ranking #36 of 36. Correlation aside, the last 12 months split them widely, with GRMN ahead by 74.8 points (+25.1% versus -49.7%). One caveat on sizing: VXX is 1.8 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.
GRMN vs VXX: side by side
| GRMN (Garmin) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.1% | -49.7% |
| 5-year return | +80.9% | -95.6% |
| Volatility (ann.) | 34.7% | 60.9% |
| Beta vs S&P 500 | 1.06 | -3.31 |
| Max drawdown (3Y) | -28.0% | -83.3% |
| Market cap | $55.9B | – |
| P/E (trailing) | 29.9 | – |
| Dividend yield | 1.45% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | GRMN | VXX |
|---|---|---|
| 2022 | -30.2% | -23.8% |
| 2023 | +43.1% | -72.5% |
| 2024 | +63.3% | -26.2% |
| 2025 | -0.1% | -42.2% |
| 2026 | +44.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRMN and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between GRMN and VXX?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.27 over the last year and -0.41 over 5 years.
Is VXX a good diversifier for GRMN?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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/grmn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grmn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRMN correlations · VXX correlations
