GYRE vs VXX: Correlation
Gyre Therapeutics, Inc. (GYRE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GYRE and VXX?
Across a 3-year window, the weekly returns of GYRE and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.18) runs above the 3-year figure (-0.28). Stretching to 5 years gives -0.19, with an annualized covariance of -1619.7 %².
VXX is close to the least connected end of GYRE's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months GYRE outperformed by 32.1 percentage points (-17.6% for GYRE against -49.7% for VXX). One caveat on sizing: GYRE is 1.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GYRE vs VXX: side by side
| GYRE (Gyre Therapeutics, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.6% | -49.7% |
| 5-year return | -38.8% | -95.6% |
| Volatility (ann.) | 93.7% | 60.9% |
| Beta vs S&P 500 | 1.58 | -3.31 |
| Max drawdown (3Y) | -81.3% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GYRE | VXX |
|---|---|---|
| 2022 | +121.5% | -23.8% |
| 2023 | +422.0% | -72.5% |
| 2024 | -52.9% | -26.2% |
| 2025 | -41.7% | -42.2% |
| 2026 | -5.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GYRE and VXX good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GYRE and VXX?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.18 over the last year and -0.19 over 5 years.
Is VXX a good diversifier for GYRE?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/gyre-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gyre-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GYRE correlations · VXX correlations
