GSIT vs VXX: Correlation
How closely do GSI Technology, Inc. (GSIT) 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 -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSIT and VXX?
Across a 3-year window, the weekly returns of GSIT and VXX correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.35) than the 3-year average (-0.23). Stretching to 5 years gives -0.15, with an annualized covariance of -1551.6 %².
Among the 11 assets we track against GSIT, VXX sits near the bottom by co-movement, at rank #10. The last year tells two different stories: GSIT led by 147.0 percentage points, +97.3% for GSIT against -49.7% for VXX. Note the risk asymmetry: GSIT runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GSIT vs VXX: side by side
| GSIT (GSI Technology, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +97.3% | -49.7% |
| 5-year return | +5.1% | -95.6% |
| Volatility (ann.) | 109.2% | 60.9% |
| Beta vs S&P 500 | 3.12 | -3.31 |
| Max drawdown (3Y) | -66.7% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GSIT | VXX |
|---|---|---|
| 2022 | -62.6% | -23.8% |
| 2023 | +52.6% | -72.5% |
| 2024 | +14.8% | -26.2% |
| 2025 | +105.0% | -42.2% |
| 2026 | -4.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSIT and VXX good diversifiers for each other?
Yes. With a correlation of -0.23, GSIT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GSIT and VXX?
As of 2026-08-27, the correlation of weekly returns between GSIT and VXX is -0.23 over 3 years, -0.35 over 1 year and -0.15 over 5 years.
Is VXX a good diversifier for GSIT?
Yes. With a correlation of -0.23, GSIT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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/gsit-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gsit-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GSIT correlations · VXX correlations
