GTX vs VXX: Correlation
Measured on weekly returns over the past three years, Garrett Motion Inc. (GTX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTX and VXX?
Over the past 3 years, GTX and VXX moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -751.9 %².
Out of 10 assets tracked against GTX, VXX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months GTX outperformed by 161.3 percentage points (+111.6% for GTX 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.
GTX vs VXX: side by side
| GTX (Garrett Motion Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +111.6% | -49.7% |
| 5-year return | +313.6% | -95.6% |
| Volatility (ann.) | 43.0% | 60.9% |
| Beta vs S&P 500 | 1.04 | -3.31 |
| Max drawdown (3Y) | -28.7% | -83.3% |
| Market cap | $5.1B | – |
| P/E (trailing) | 14.8 | – |
| Dividend yield | 1.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTX | VXX |
|---|---|---|
| 2022 | -5.1% | -23.8% |
| 2023 | +26.9% | -72.5% |
| 2024 | -6.6% | -26.2% |
| 2025 | +97.2% | -42.2% |
| 2026 | +58.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTX and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between GTX and VXX?
As of 2026-08-27, the correlation of weekly returns between GTX and VXX is -0.29 over 3 years, -0.28 over 1 year and -0.27 over 5 years.
Is VXX a good diversifier for GTX?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/gtx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gtx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GTX correlations · VXX correlations
