HLIO vs VXX: Correlation
How closely do Helios Technologies, Inc. (HLIO) 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 -0.39, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLIO and VXX?
On 3 years of weekly data the HLIO/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. The 5-year figure is -0.40, and annualized covariance runs at -1022.7 %².
Out of 18 assets tracked against HLIO, VXX lands near the bottom at #18. The last year tells two different stories: HLIO led by 87.5 percentage points, +37.8% for HLIO 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.
HLIO vs VXX: side by side
| HLIO (Helios Technologies, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +37.8% | -49.7% |
| 5-year return | -5.7% | -95.6% |
| Volatility (ann.) | 42.8% | 60.9% |
| Beta vs S&P 500 | 1.18 | -3.31 |
| Max drawdown (3Y) | -55.9% | -83.3% |
| Market cap | $2.5B | – |
| P/E (trailing) | 34.9 | – |
| Dividend yield | 0.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLIO | VXX |
|---|---|---|
| 2022 | -48.0% | -23.8% |
| 2023 | -16.2% | -72.5% |
| 2024 | -0.8% | -26.2% |
| 2025 | +21.0% | -42.2% |
| 2026 | +39.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLIO and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between HLIO and VXX?
As of 2026-08-27, the correlation of weekly returns between HLIO and VXX is -0.39 over 3 years, -0.33 over 1 year and -0.40 over 5 years.
Is VXX a good diversifier for HLIO?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 mean?
A reading of -0.39 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/hlio-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlio-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HLIO correlations · VXX correlations
