IBEX vs VXX: Correlation
IBEX Limited - Common Share (IBEX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBEX and VXX?
On 3 years of weekly data the IBEX/VXX correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.27 over 3. The 5-year figure is -0.28, and annualized covariance runs at -738.9 %².
VXX is close to the least connected end of IBEX's tracked universe, ranking #10 of 12. Correlation aside, the last 12 months split them widely, with IBEX ahead by 76.4 points (+26.7% 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.
IBEX vs VXX: side by side
| IBEX (IBEX Limited - Common Share) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.7% | -49.7% |
| 5-year return | +104.6% | -95.6% |
| Volatility (ann.) | 45.5% | 60.9% |
| Beta vs S&P 500 | 1.03 | -3.31 |
| Max drawdown (3Y) | -37.1% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBEX | VXX |
|---|---|---|
| 2022 | +92.8% | -23.8% |
| 2023 | -23.5% | -72.5% |
| 2024 | +13.0% | -26.2% |
| 2025 | +77.7% | -42.2% |
| 2026 | -2.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBEX and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IBEX and VXX?
The IBEX/VXX correlation stands at -0.27 on a 3-year window (1 year: -0.25, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for IBEX?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/ibex-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibex-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBEX correlations · VXX correlations
