HCC vs VXX: Correlation
Measured on weekly returns over the past three years, Warrior Met Coal, Inc. (HCC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCC and VXX?
On 3 years of weekly data the HCC/VXX correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.34). The 5-year figure is -0.26, and annualized covariance runs at -989.9 %².
VXX is close to the least connected end of HCC's tracked universe, ranking #10 of 10. The last year tells two different stories: HCC led by 134.0 percentage points, +84.3% for HCC 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.
HCC vs VXX: side by side
| HCC (Warrior Met Coal, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +84.3% | -49.7% |
| 5-year return | +450.1% | -95.6% |
| Volatility (ann.) | 48.0% | 60.9% |
| Beta vs S&P 500 | 0.98 | -3.31 |
| Max drawdown (3Y) | -45.5% | -83.3% |
| Market cap | $5.7B | – |
| P/E (trailing) | 25.3 | – |
| Dividend yield | 0.30% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HCC | VXX |
|---|---|---|
| 2022 | +41.0% | -23.8% |
| 2023 | +81.6% | -72.5% |
| 2024 | -9.8% | -26.2% |
| 2025 | +63.5% | -42.2% |
| 2026 | +23.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between HCC and VXX?
As of 2026-08-27, the correlation of weekly returns between HCC and VXX is -0.34 over 3 years, -0.08 over 1 year and -0.26 over 5 years.
Is VXX a good diversifier for HCC?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/hcc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hcc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HCC correlations · VXX correlations
