HMC vs VXX: Correlation
Measured on weekly returns over the past three years, Honda Motor Company, Ltd. (HMC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HMC and VXX?
Over the past 3 years, HMC and VXX moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.40) sits close to the 3-year figure. Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -560.6 %².
VXX is close to the least connected end of HMC's tracked universe, ranking #10 of 10. The last year tells two different stories: HMC led by 42.2 percentage points, -7.5% for HMC against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HMC vs VXX: side by side
| HMC (Honda Motor Company, Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -7.5% | -49.7% |
| 5-year return | +21.7% | -95.6% |
| Volatility (ann.) | 28.1% | 60.9% |
| Beta vs S&P 500 | 0.61 | -3.31 |
| Max drawdown (3Y) | -35.2% | -83.3% |
| Market cap | $40.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 222.86% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HMC | VXX |
|---|---|---|
| 2022 | -16.6% | -23.8% |
| 2023 | +39.9% | -72.5% |
| 2024 | -3.8% | -26.2% |
| 2025 | +5.9% | -42.2% |
| 2026 | +6.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HMC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between HMC and VXX?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.40 over the last year and -0.35 over 5 years.
Is VXX a good diversifier for HMC?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
A reading of -0.33 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/hmc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hmc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HMC correlations · VXX correlations
