HAL vs VXX: Correlation
Halliburton (HAL) 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 HAL and VXX?
Across a 3-year window, the weekly returns of HAL and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.28). Stretching to 5 years gives -0.30, with an annualized covariance of -649.3 %².
Among the 44 assets we track against HAL, VXX sits near the bottom by co-movement, at rank #44. The last year tells two different stories: HAL led by 112.5 percentage points, +62.8% for HAL against -49.7% for VXX. One caveat on sizing: VXX is 1.6 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.
HAL vs VXX: side by side
| HAL (Halliburton) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +62.8% | -49.7% |
| 5-year return | +93.6% | -95.6% |
| Volatility (ann.) | 38.0% | 60.9% |
| Beta vs S&P 500 | 0.55 | -3.31 |
| Max drawdown (3Y) | -54.0% | -83.3% |
| Market cap | $29.6B | – |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 1.97% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | HAL | VXX |
|---|---|---|
| 2022 | +74.5% | -23.8% |
| 2023 | -6.5% | -72.5% |
| 2024 | -23.2% | -26.2% |
| 2025 | +7.0% | -42.2% |
| 2026 | +26.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between HAL and VXX?
The HAL/VXX correlation stands at -0.28 on a 3-year window (1 year: -0.10, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for HAL?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
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/hal-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hal-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HAL correlations · VXX correlations
