GRNT vs VXX: Correlation
How closely do Granite Ridge Resources, Inc. (GRNT) 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 -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRNT and VXX?
On 3 years of weekly data the GRNT/VXX correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.13) than the 3-year average (-0.27). The 5-year figure is -0.22, and annualized covariance runs at -653.3 %².
Out of 11 assets tracked against GRNT, VXX lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with GRNT ahead by 49.3 points (-0.4% versus -49.7%). Risk is not evenly split, since VXX carries 1.6 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.
GRNT vs VXX: side by side
| GRNT (Granite Ridge Resources, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.4% | -49.7% |
| 5-year return | -31.9% | -95.6% |
| Volatility (ann.) | 39.2% | 60.9% |
| Beta vs S&P 500 | 0.55 | -3.31 |
| Max drawdown (3Y) | -36.8% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 8.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRNT | VXX |
|---|---|---|
| 2022 | -7.1% | -23.8% |
| 2023 | -28.5% | -72.5% |
| 2024 | +14.9% | -26.2% |
| 2025 | -21.3% | -42.2% |
| 2026 | +12.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRNT and VXX good diversifiers for each other?
Yes. With a correlation of -0.27, GRNT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GRNT and VXX?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.13 over the last year and -0.22 over 5 years.
Is VXX a good diversifier for GRNT?
Yes. With a correlation of -0.27, GRNT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/grnt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grnt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRNT correlations · VXX correlations
