IONS vs VXX: Correlation
Ionis Pharmaceuticals, Inc. (IONS) 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 -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IONS and VXX?
Over the past 3 years, IONS and VXX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.12) than the 3-year average (-0.23). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -615.5 %².
Out of 13 assets tracked against IONS, VXX lands near the bottom at #12. The last year tells two different stories: IONS led by 95.7 percentage points, +46.0% for IONS against -49.7% for VXX.
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.
IONS vs VXX: side by side
| IONS (Ionis Pharmaceuticals, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +46.0% | -49.7% |
| 5-year return | +59.5% | -95.6% |
| Volatility (ann.) | 44.7% | 60.9% |
| Beta vs S&P 500 | 0.72 | -3.31 |
| Max drawdown (3Y) | -52.4% | -83.3% |
| Market cap | $10.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IONS | VXX |
|---|---|---|
| 2022 | +24.1% | -23.8% |
| 2023 | +33.9% | -72.5% |
| 2024 | -30.9% | -26.2% |
| 2025 | +126.3% | -42.2% |
| 2026 | -21.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IONS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between IONS and VXX?
The IONS/VXX correlation stands at -0.23 on a 3-year window (1 year: -0.12, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for IONS?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/ions-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ions-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IONS correlations · VXX correlations
