HPE vs VXX: Correlation
Measured on weekly returns over the past three years, Hewlett Packard Enterprise (HPE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HPE and VXX?
Over the past 3 years, HPE and VXX moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.23 versus -0.42 over 3 years. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -1134.3 %².
Among the 28 assets we track against HPE, VXX sits near the bottom by co-movement, at rank #28. Their recent paths diverged sharply: over the last 12 months HPE outperformed by 194.1 percentage points (+144.4% for HPE 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.
HPE vs VXX: side by side
| HPE (Hewlett Packard Enterprise) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +144.4% | -49.7% |
| 5-year return | +309.3% | -95.6% |
| Volatility (ann.) | 43.8% | 60.9% |
| Beta vs S&P 500 | 1.47 | -3.31 |
| Max drawdown (3Y) | -48.4% | -83.3% |
| Market cap | $72.0B | – |
| P/E (trailing) | 51.3 | – |
| Dividend yield | 0.99% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | HPE | VXX |
|---|---|---|
| 2022 | +4.5% | -23.8% |
| 2023 | +9.7% | -72.5% |
| 2024 | +29.1% | -26.2% |
| 2025 | +15.5% | -42.2% |
| 2026 | +128.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HPE and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, HPE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HPE and VXX?
The HPE/VXX correlation stands at -0.42 on a 3-year window (1 year: -0.23, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for HPE?
Yes. With a correlation of -0.42, HPE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hpe-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hpe-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HPE correlations · VXX correlations
