GROY vs VXX: Correlation
Measured on weekly returns over the past three years, Gold Royalty Corp. (GROY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GROY and VXX?
Across a 3-year window, the weekly returns of GROY and VXX correlate at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.43 versus -0.20 over 3 years. Stretching to 5 years gives -0.16, with an annualized covariance of -669.6 %².
Among the 12 assets we track against GROY, VXX sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months GROY outperformed by 54.0 percentage points (+4.3% for GROY against -49.7% for VXX).
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.
GROY vs VXX: side by side
| GROY (Gold Royalty Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.3% | -49.7% |
| 5-year return | -15.6% | -95.6% |
| Volatility (ann.) | 55.2% | 60.9% |
| Beta vs S&P 500 | 1.04 | -3.31 |
| Max drawdown (3Y) | -51.6% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GROY | VXX |
|---|---|---|
| 2022 | -52.0% | -23.8% |
| 2023 | -36.3% | -72.5% |
| 2024 | -17.7% | -26.2% |
| 2025 | +233.9% | -42.2% |
| 2026 | -15.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GROY and VXX good diversifiers for each other?
Yes. With a correlation of -0.20, GROY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GROY and VXX?
As of 2026-08-27, the correlation of weekly returns between GROY and VXX is -0.20 over 3 years, -0.43 over 1 year and -0.16 over 5 years.
Is VXX a good diversifier for GROY?
Yes. With a correlation of -0.20, GROY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/groy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/groy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GROY correlations · VXX correlations
