HD vs VXX: Correlation
How closely do Home Depot (The) (HD) 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 -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HD and VXX?
On 3 years of weekly data the HD/VXX correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. The 5-year figure is -0.41, and annualized covariance runs at -608.2 %².
VXX is close to the least connected end of HD's tracked universe, ranking #53 of 54. Correlation aside, the last 12 months split them widely, with HD ahead by 32.3 points (-17.4% versus -49.7%). 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.
HD vs VXX: side by side
| HD (Home Depot (The)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.4% | -49.7% |
| 5-year return | +13.8% | -95.6% |
| Volatility (ann.) | 23.6% | 60.9% |
| Beta vs S&P 500 | 0.87 | -3.31 |
| Max drawdown (3Y) | -28.8% | -83.3% |
| Market cap | $327.9B | – |
| P/E (trailing) | 23.4 | – |
| Dividend yield | 1.38% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | HD | VXX |
|---|---|---|
| 2022 | -22.0% | -23.8% |
| 2023 | +12.8% | -72.5% |
| 2024 | +15.0% | -26.2% |
| 2025 | -9.3% | -42.2% |
| 2026 | -3.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HD and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, HD and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HD and VXX?
The HD/VXX correlation stands at -0.42 on a 3-year window (1 year: -0.40, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for HD?
Yes. With a correlation of -0.42, HD and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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/hd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HD correlations · VXX correlations
