HQL vs VXX: Correlation
Measured on weekly returns over the past three years, abrdn Life Sciences Investors Shares of Beneficial Interest (HQL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HQL and VXX?
On 3 years of weekly data the HQL/VXX correlation comes out at -0.49, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.36 versus -0.49 over 3 years. The 5-year figure is -0.47, and annualized covariance runs at -703.2 %².
Among the 72 assets we track against HQL, VXX sits near the bottom by co-movement, at rank #72. Their recent paths diverged sharply: over the last 12 months HQL outperformed by 125.6 percentage points (+75.9% for HQL against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.6 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.
HQL vs VXX: side by side
| HQL (abrdn Life Sciences Investors Shares of Beneficial Interest) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +75.9% | -49.7% |
| 5-year return | +74.1% | -95.6% |
| Volatility (ann.) | 23.5% | 60.9% |
| Beta vs S&P 500 | 0.88 | -3.31 |
| Max drawdown (3Y) | -25.1% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 3.2 | – |
| Dividend yield | 8.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HQL | VXX |
|---|---|---|
| 2022 | -19.2% | -23.8% |
| 2023 | +4.2% | -72.5% |
| 2024 | +11.0% | -26.2% |
| 2025 | +45.5% | -42.2% |
| 2026 | +40.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HQL and VXX good diversifiers for each other?
Yes. With a correlation of -0.49, HQL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HQL and VXX?
As of 2026-08-27, the correlation of weekly returns between HQL and VXX is -0.49 over 3 years, -0.36 over 1 year and -0.47 over 5 years.
Is VXX a good diversifier for HQL?
Yes. With a correlation of -0.49, HQL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.49 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/hql-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hql-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HQL correlations · VXX correlations
