IR vs VXX: Correlation
Ingersoll Rand (IR) 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 -0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IR and VXX?
On 3 years of weekly data the IR/VXX correlation comes out at -0.55, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.27) runs above the 3-year figure (-0.55). The 5-year figure is -0.52, and annualized covariance runs at -1006.0 %².
VXX is close to the least connected end of IR's tracked universe, ranking #60 of 61. Correlation aside, the last 12 months split them widely, with IR ahead by 47.7 points (-2.0% versus -49.7%). Risk is not evenly split, since VXX carries 2.0 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.
IR vs VXX: side by side
| IR (Ingersoll Rand) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.0% | -49.7% |
| 5-year return | +49.2% | -95.6% |
| Volatility (ann.) | 29.8% | 60.9% |
| Beta vs S&P 500 | 1.17 | -3.31 |
| Max drawdown (3Y) | -36.6% | -83.3% |
| Market cap | $30.6B | – |
| P/E (trailing) | 32.6 | – |
| Dividend yield | 0.15% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | IR | VXX |
|---|---|---|
| 2022 | -15.4% | -23.8% |
| 2023 | +48.2% | -72.5% |
| 2024 | +17.1% | -26.2% |
| 2025 | -12.3% | -42.2% |
| 2026 | -0.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IR and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
FAQ
What is the correlation between IR and VXX?
As of 2026-08-27, the correlation of weekly returns between IR and VXX is -0.55 over 3 years, -0.27 over 1 year and -0.52 over 5 years.
Is VXX a good diversifier for IR?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
What does a correlation of -0.55 mean?
A reading of -0.55 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/ir-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ir-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IR correlations · VXX correlations
