INCY vs VXX: Correlation
Incyte (INCY) 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 -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INCY and VXX?
On 3 years of weekly data the INCY/VXX correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. The 5-year figure is -0.19, and annualized covariance runs at -447.1 %².
Out of 35 assets tracked against INCY, VXX lands near the bottom at #33. Correlation aside, the last 12 months split them widely, with INCY ahead by 100.3 points (+50.6% versus -49.7%). Risk is not evenly split, since VXX carries 1.8 times the volatility of the other side.
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.
INCY vs VXX: side by side
| INCY (Incyte) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +50.6% | -49.7% |
| 5-year return | +68.0% | -95.6% |
| Volatility (ann.) | 33.1% | 60.9% |
| Beta vs S&P 500 | 0.45 | -3.31 |
| Max drawdown (3Y) | -33.8% | -83.3% |
| Market cap | $25.9B | – |
| P/E (trailing) | 16.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | INCY | VXX |
|---|---|---|
| 2022 | +9.4% | -23.8% |
| 2023 | -21.8% | -72.5% |
| 2024 | +10.0% | -26.2% |
| 2025 | +43.0% | -42.2% |
| 2026 | +29.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INCY and VXX good diversifiers for each other?
Yes. With a correlation of -0.22, INCY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INCY and VXX?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.17 over the last year and -0.19 over 5 years.
Is VXX a good diversifier for INCY?
Yes. With a correlation of -0.22, INCY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/incy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/incy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INCY correlations · VXX correlations
