HUT vs VXX: Correlation
Measured on weekly returns over the past three years, Hut 8 Corp. (HUT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HUT and VXX?
Across a 3-year window, the weekly returns of HUT and VXX correlate at -0.30, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.35 lands near the 3-year figure. Stretching to 5 years gives -0.27, with an annualized covariance of -1720.5 %².
Out of 19 assets tracked against HUT, VXX lands near the bottom at #19. The last year tells two different stories: HUT led by 280.4 percentage points, +230.7% for HUT against -49.7% for VXX. Risk is not evenly split, since HUT carries 1.5 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.
HUT vs VXX: side by side
| HUT (Hut 8 Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +230.7% | -49.7% |
| 5-year return | +110.5% | -95.6% |
| Volatility (ann.) | 94.2% | 60.9% |
| Beta vs S&P 500 | 2.26 | -3.31 |
| Max drawdown (3Y) | -65.1% | -83.3% |
| Market cap | $10.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HUT | VXX |
|---|---|---|
| 2022 | -89.2% | -23.8% |
| 2023 | +213.9% | -72.5% |
| 2024 | +53.6% | -26.2% |
| 2025 | +124.2% | -42.2% |
| 2026 | +89.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HUT 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 HUT and VXX?
As of 2026-08-27, the correlation of weekly returns between HUT and VXX is -0.30 over 3 years, -0.35 over 1 year and -0.27 over 5 years.
Is VXX a good diversifier for HUT?
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?
A reading of -0.30 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/hut-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hut-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HUT correlations · VXX correlations
