HLLY vs VXX: Correlation
Holley Inc. (HLLY) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLLY and VXX?
Across a 3-year window, the weekly returns of HLLY and VXX correlate at -0.31, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.31 over 3. Stretching to 5 years gives -0.24, with an annualized covariance of -1152.1 %².
Out of 18 assets tracked against HLLY, VXX lands near the bottom at #18. The last year tells two different stories: HLLY led by 24.3 percentage points, -25.4% for HLLY 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.
HLLY vs VXX: side by side
| HLLY (Holley Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -25.4% | -49.7% |
| 5-year return | -74.8% | -95.6% |
| Volatility (ann.) | 60.1% | 60.9% |
| Beta vs S&P 500 | 1.33 | -3.31 |
| Max drawdown (3Y) | -70.2% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 33.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLLY | VXX |
|---|---|---|
| 2022 | -83.7% | -23.8% |
| 2023 | +129.7% | -72.5% |
| 2024 | -38.0% | -26.2% |
| 2025 | +36.8% | -42.2% |
| 2026 | -28.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLLY and VXX good diversifiers for each other?
Yes. With a correlation of -0.31, HLLY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HLLY and VXX?
As of 2026-08-27, the correlation of weekly returns between HLLY and VXX is -0.31 over 3 years, -0.22 over 1 year and -0.24 over 5 years.
Is VXX a good diversifier for HLLY?
Yes. With a correlation of -0.31, HLLY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/hlly-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlly-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HLLY correlations · VXX correlations
