HON vs VXX: Correlation
Measured on weekly returns over the past three years, Honeywell Technologies (HON) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HON and VXX?
On 3 years of weekly data the HON/VXX correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.38 over 3. The 5-year figure is -0.42, and annualized covariance runs at -542.6 %².
Out of 32 assets tracked against HON, VXX lands near the bottom at #31. Their recent paths diverged sharply: over the last 12 months HON outperformed by 52.4 percentage points (+2.7% for HON against -49.7% for VXX). 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.
HON vs VXX: side by side
| HON (Honeywell Technologies) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.7% | -49.7% |
| 5-year return | +6.6% | -95.6% |
| Volatility (ann.) | 23.2% | 60.9% |
| Beta vs S&P 500 | 0.74 | -3.31 |
| Max drawdown (3Y) | -22.1% | -83.3% |
| Market cap | $69.9B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 4.26% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | HON | VXX |
|---|---|---|
| 2022 | +4.9% | -23.8% |
| 2023 | +0.0% | -72.5% |
| 2024 | +10.0% | -26.2% |
| 2025 | -6.4% | -42.2% |
| 2026 | +9.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HON and VXX good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HON and VXX?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.33 over the last year and -0.42 over 5 years.
Is VXX a good diversifier for HON?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
A reading of -0.38 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/hon-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hon-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HON correlations · VXX correlations
