HRMY vs VXX: Correlation
How closely do Harmony Biosciences Holdings, Inc. (HRMY) 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 -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRMY and VXX?
On 3 years of weekly data the HRMY/VXX correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.45). The 5-year figure is -0.35, and annualized covariance runs at -1334.2 %².
Among the 11 assets we track against HRMY, VXX sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with HRMY ahead by 54.5 points (+4.8% 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.
HRMY vs VXX: side by side
| HRMY (Harmony Biosciences Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.8% | -49.7% |
| 5-year return | +7.6% | -95.6% |
| Volatility (ann.) | 49.1% | 60.9% |
| Beta vs S&P 500 | 1.31 | -3.31 |
| Max drawdown (3Y) | -50.8% | -83.3% |
| Market cap | $2.3B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRMY | VXX |
|---|---|---|
| 2022 | +29.2% | -23.8% |
| 2023 | -41.4% | -72.5% |
| 2024 | +6.5% | -26.2% |
| 2025 | +8.7% | -42.2% |
| 2026 | +6.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRMY and VXX good diversifiers for each other?
Yes. With a correlation of -0.45, HRMY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HRMY and VXX?
The HRMY/VXX correlation stands at -0.45 on a 3-year window (1 year: -0.25, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for HRMY?
Yes. With a correlation of -0.45, HRMY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hrmy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hrmy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HRMY correlations · VXX correlations
