IE vs VXX: Correlation
Ivanhoe Electric Inc. (IE) 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 -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IE and VXX?
Across a 3-year window, the weekly returns of IE and VXX correlate at -0.39, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.50 versus -0.39 over 3 years. Stretching to 5 years gives -0.40, with an annualized covariance of -1660.3 %².
Out of 14 assets tracked against IE, VXX lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with IE ahead by 80.8 points (+31.1% 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.
IE vs VXX: side by side
| IE (Ivanhoe Electric Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +31.1% | -49.7% |
| 5-year return | +8.2% | -95.6% |
| Volatility (ann.) | 69.5% | 60.9% |
| Beta vs S&P 500 | 2.00 | -3.31 |
| Max drawdown (3Y) | -70.7% | -83.3% |
| Market cap | $1.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IE | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | -17.0% | -72.5% |
| 2024 | -25.1% | -26.2% |
| 2025 | +111.7% | -42.2% |
| 2026 | -26.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IE and VXX good diversifiers for each other?
Yes. With a correlation of -0.39, IE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IE and VXX?
The IE/VXX correlation stands at -0.39 on a 3-year window (1 year: -0.50, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for IE?
Yes. With a correlation of -0.39, IE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 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/ie-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ie-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IE correlations · VXX correlations
