IREN vs VXX: Correlation
IREN Limited (IREN) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IREN and VXX?
Over the past 3 years, IREN and VXX moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -1952.2 %².
VXX is close to the least connected end of IREN's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months IREN outperformed by 131.0 percentage points (+81.3% for IREN against -49.7% for VXX). One caveat on sizing: IREN is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IREN vs VXX: side by side
| IREN (IREN Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +81.3% | -49.7% |
| 5-year return | +65.8% | -95.6% |
| Volatility (ann.) | 109.0% | 60.9% |
| Beta vs S&P 500 | 2.80 | -3.31 |
| Max drawdown (3Y) | -65.6% | -83.3% |
| Market cap | $14.5B | – |
| P/E (trailing) | 51.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IREN | VXX |
|---|---|---|
| 2022 | -92.3% | -23.8% |
| 2023 | +472.0% | -72.5% |
| 2024 | +37.3% | -26.2% |
| 2025 | +284.6% | -42.2% |
| 2026 | +7.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IREN and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IREN and VXX?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.25 over the last year and -0.23 over 5 years.
Is VXX a good diversifier for IREN?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/iren-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iren-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IREN correlations · VXX correlations
