HLNE vs VXX: Correlation
Hamilton Lane Incorporated (HLNE) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLNE and VXX?
On 3 years of weekly data the HLNE/VXX correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.25) runs above the 3-year figure (-0.44). The 5-year figure is -0.45, and annualized covariance runs at -997.3 %².
VXX is close to the least connected end of HLNE's tracked universe, ranking #17 of 18. The last year tells two different stories: HLNE led by 20.3 percentage points, -29.4% for HLNE against -49.7% for VXX. One caveat on sizing: VXX is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HLNE vs VXX: side by side
| HLNE (Hamilton Lane Incorporated) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -29.4% | -49.7% |
| 5-year return | +32.3% | -95.6% |
| Volatility (ann.) | 37.2% | 60.9% |
| Beta vs S&P 500 | 1.23 | -3.31 |
| Max drawdown (3Y) | -62.3% | -83.3% |
| Market cap | $5.9B | – |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 2.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HLNE | VXX |
|---|---|---|
| 2022 | -37.0% | -23.8% |
| 2023 | +81.4% | -72.5% |
| 2024 | +32.4% | -26.2% |
| 2025 | -7.9% | -42.2% |
| 2026 | -19.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLNE and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between HLNE and VXX?
As of 2026-08-27, the correlation of weekly returns between HLNE and VXX is -0.44 over 3 years, -0.25 over 1 year and -0.45 over 5 years.
Is VXX a good diversifier for HLNE?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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/hlne-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hlne-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HLNE correlations · VXX correlations
