HCI vs VXX: Correlation
How closely do HCI Group, Inc. (HCI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HCI and VXX?
Over the past 3 years, HCI and VXX moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -519.4 %².
Among the 10 assets we track against HCI, VXX sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months HCI outperformed by 64.9 percentage points (+15.2% for HCI against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.7 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.
HCI vs VXX: side by side
| HCI (HCI Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.2% | -49.7% |
| 5-year return | +86.4% | -95.6% |
| Volatility (ann.) | 35.9% | 60.9% |
| Beta vs S&P 500 | 0.62 | -3.31 |
| Max drawdown (3Y) | -28.3% | -83.3% |
| Market cap | $2.3B | – |
| P/E (trailing) | 8.1 | – |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HCI | VXX |
|---|---|---|
| 2022 | -51.2% | -23.8% |
| 2023 | +126.8% | -72.5% |
| 2024 | +35.5% | -26.2% |
| 2025 | +66.3% | -42.2% |
| 2026 | -1.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HCI and VXX good diversifiers for each other?
Yes. With a correlation of -0.24, HCI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HCI and VXX?
As of 2026-08-27, the correlation of weekly returns between HCI and VXX is -0.24 over 3 years, -0.27 over 1 year and -0.20 over 5 years.
Is VXX a good diversifier for HCI?
Yes. With a correlation of -0.24, HCI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hci-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hci-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HCI correlations · VXX correlations
