HQI vs VXX: Correlation
How closely do HireQuest, Inc. (HQI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQI and VXX?
On 3 years of weekly data the HQI/VXX correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.17 versus -0.30 over 3 years. The 5-year figure is -0.25, and annualized covariance runs at -780.2 %².
Among the 10 assets we track against HQI, VXX sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with HQI ahead by 121.1 points (+71.4% versus -49.7%).
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.
HQI vs VXX: side by side
| HQI (HireQuest, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +71.4% | -49.7% |
| 5-year return | -4.1% | -95.6% |
| Volatility (ann.) | 42.4% | 60.9% |
| Beta vs S&P 500 | 0.55 | -3.31 |
| Max drawdown (3Y) | -59.4% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 28.6 | – |
| Dividend yield | 1.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQI | VXX |
|---|---|---|
| 2022 | -20.4% | -23.8% |
| 2023 | -1.7% | -72.5% |
| 2024 | -6.1% | -26.2% |
| 2025 | -24.0% | -42.2% |
| 2026 | +54.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between HQI and VXX?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.17 over the last year and -0.25 over 5 years.
Is VXX a good diversifier for HQI?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 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/hqi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hqi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HQI correlations · VXX correlations
