IBB vs VXX: Correlation
Measured on weekly returns over the past three years, iShares Biotechnology ETF (IBB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.51, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBB and VXX?
Over the past 3 years, IBB and VXX moved with a correlation of -0.51, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.34 versus -0.51 over 3 years. Over 5 years the correlation is -0.48, and the annualized covariance of weekly returns is -643.1 %².
Among the 168 assets we track against IBB, VXX sits near the bottom by co-movement, at rank #167. Correlation aside, the last 12 months split them widely, with IBB ahead by 105.1 points (+55.4% versus -49.7%). Note the risk asymmetry: VXX runs 2.9 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.
IBB vs VXX: side by side
| IBB (iShares Biotechnology ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +55.4% | -49.7% |
| 5-year return | +26.6% | -95.6% |
| Volatility (ann.) | 20.7% | 60.9% |
| Beta vs S&P 500 | 0.81 | -3.31 |
| Max drawdown (3Y) | -24.9% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.22% | 0.00% |
| Expense ratio | 0.44% | – |
| Assets under management | $9.2B | – |
| Sector / category | ETF · Thematic | US Listed |
On the fund side, IBB sits in the Health category at iShares, with $9.2B under management, 235 holdings, a 0.44% expense ratio, a 0.22% trailing dividend yield.
Year-by-year returns
| Year | IBB | VXX |
|---|---|---|
| 2022 | -13.7% | -23.8% |
| 2023 | +3.8% | -72.5% |
| 2024 | -2.4% | -26.2% |
| 2025 | +28.0% | -42.2% |
| 2026 | +27.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBB and VXX good diversifiers for each other?
Yes. With a correlation of -0.51, IBB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IBB and VXX?
Using weekly returns as of 2026-08-27: -0.51 over 3 years, with -0.34 over the last year and -0.48 over 5 years.
Is VXX a good diversifier for IBB?
Yes. With a correlation of -0.51, IBB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 mean?
A reading of -0.51 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/ibb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBB correlations · VXX correlations
