HYLN vs VXX: Correlation
How closely do Hyliion Holdings Corp. (HYLN) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HYLN and VXX?
Over the past 3 years, HYLN and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.28). Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -1878.8 %².
VXX is close to the least connected end of HYLN's tracked universe, ranking #14 of 14. Correlation aside, the last 12 months split them widely, with HYLN ahead by 151.5 points (+101.8% versus -49.7%). Risk is not evenly split, since HYLN carries 1.8 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.
HYLN vs VXX: side by side
| HYLN (Hyliion Holdings Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +101.8% | -49.7% |
| 5-year return | -60.9% | -95.6% |
| Volatility (ann.) | 108.2% | 60.9% |
| Beta vs S&P 500 | 2.37 | -3.31 |
| Max drawdown (3Y) | -70.3% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HYLN | VXX |
|---|---|---|
| 2022 | -62.3% | -23.8% |
| 2023 | -65.2% | -72.5% |
| 2024 | +220.6% | -26.2% |
| 2025 | -29.5% | -42.2% |
| 2026 | +85.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HYLN and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between HYLN and VXX?
As of 2026-08-27, the correlation of weekly returns between HYLN and VXX is -0.28 over 3 years, -0.15 over 1 year and -0.30 over 5 years.
Is VXX a good diversifier for HYLN?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 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/hyln-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hyln-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HYLN correlations · VXX correlations
