IIIN vs VXX: Correlation
Insteel Industries, Inc. (IIIN) 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 IIIN and VXX?
On 3 years of weekly data the IIIN/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.39). The 5-year figure is -0.32, and annualized covariance runs at -935.2 %².
VXX is close to the least connected end of IIIN's tracked universe, ranking #17 of 17. Their recent paths diverged sharply: over the last 12 months IIIN outperformed by 31.5 percentage points (-18.2% for IIIN against -49.7% for VXX). Note the risk asymmetry: VXX runs 1.5 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.
IIIN vs VXX: side by side
| IIIN (Insteel Industries, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -18.2% | -49.7% |
| 5-year return | +6.5% | -95.6% |
| Volatility (ann.) | 39.5% | 60.9% |
| Beta vs S&P 500 | 0.99 | -3.31 |
| Max drawdown (3Y) | -37.0% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | 16.3 | – |
| Dividend yield | 0.39% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IIIN | VXX |
|---|---|---|
| 2022 | -25.6% | -23.8% |
| 2023 | +50.0% | -72.5% |
| 2024 | -26.8% | -26.2% |
| 2025 | +21.5% | -42.2% |
| 2026 | -3.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IIIN and VXX good diversifiers for each other?
Yes. With a correlation of -0.39, IIIN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IIIN and VXX?
As of 2026-08-27, the correlation of weekly returns between IIIN and VXX is -0.39 over 3 years, -0.09 over 1 year and -0.32 over 5 years.
Is VXX a good diversifier for IIIN?
Yes. With a correlation of -0.39, IIIN 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/iiin-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iiin-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IIIN correlations · VXX correlations
