IEX vs VXX: Correlation
IDEX Corporation (IEX) 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 -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and VXX?
Across a 3-year window, the weekly returns of IEX and VXX correlate at -0.48, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.29) runs above the 3-year figure (-0.48). Stretching to 5 years gives -0.46, with an annualized covariance of -679.7 %².
Out of 40 assets tracked against IEX, VXX lands near the bottom at #40. Correlation aside, the last 12 months split them widely, with IEX ahead by 92.7 points (+43.0% versus -49.7%). Note the risk asymmetry: VXX runs 2.6 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.
IEX vs VXX: side by side
| IEX (IDEX Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +43.0% | -49.7% |
| 5-year return | +10.5% | -95.6% |
| Volatility (ann.) | 23.3% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -34.6% | -83.3% |
| Market cap | $17.2B | – |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 1.23% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | IEX | VXX |
|---|---|---|
| 2022 | -2.2% | -23.8% |
| 2023 | -3.8% | -72.5% |
| 2024 | -2.4% | -26.2% |
| 2025 | -13.7% | -42.2% |
| 2026 | +32.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and VXX good diversifiers for each other?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IEX and VXX?
Using weekly returns as of 2026-08-27: -0.48 over 3 years, with -0.29 over the last year and -0.46 over 5 years.
Is VXX a good diversifier for IEX?
Yes: at -0.48, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.48 mean?
A reading of -0.48 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/iex-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iex-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IEX correlations · VXX correlations
