GWW vs VXX: Correlation
Measured on weekly returns over the past three years, W. W. Grainger (GWW) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GWW and VXX?
Across a 3-year window, the weekly returns of GWW and VXX correlate at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.37). Stretching to 5 years gives -0.36, with an annualized covariance of -521.0 %².
Among the 29 assets we track against GWW, VXX sits near the bottom by co-movement, at rank #28. Their recent paths diverged sharply: over the last 12 months GWW outperformed by 80.7 percentage points (+31.0% for GWW against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.6 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.
GWW vs VXX: side by side
| GWW (W. W. Grainger) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +31.0% | -49.7% |
| 5-year return | +219.4% | -95.6% |
| Volatility (ann.) | 23.3% | 60.9% |
| Beta vs S&P 500 | 0.74 | -3.31 |
| Max drawdown (3Y) | -24.5% | -83.3% |
| Market cap | $62.2B | – |
| P/E (trailing) | 34.0 | – |
| Dividend yield | 0.69% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | GWW | VXX |
|---|---|---|
| 2022 | +8.7% | -23.8% |
| 2023 | +50.5% | -72.5% |
| 2024 | +28.2% | -26.2% |
| 2025 | -3.4% | -42.2% |
| 2026 | +31.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GWW and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between GWW and VXX?
As of 2026-08-27, the correlation of weekly returns between GWW and VXX is -0.37 over 3 years, -0.15 over 1 year and -0.36 over 5 years.
Is VXX a good diversifier for GWW?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/gww-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gww-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GWW correlations · VXX correlations
