ISRG vs VXX: Correlation
How closely do Intuitive Surgical (ISRG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ISRG and VXX?
Over the past 3 years, ISRG and VXX moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.36 over 1 year against -0.42 over 3. Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -803.6 %².
VXX is close to the least connected end of ISRG's tracked universe, ranking #35 of 36. Their recent paths diverged sharply: over the last 12 months ISRG outperformed by 27.6 percentage points (-22.1% for ISRG against -49.7% for VXX). One caveat on sizing: VXX is 2.0 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.
ISRG vs VXX: side by side
| ISRG (Intuitive Surgical) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -22.1% | -49.7% |
| 5-year return | +4.0% | -95.6% |
| Volatility (ann.) | 31.1% | 60.9% |
| Beta vs S&P 500 | 1.20 | -3.31 |
| Max drawdown (3Y) | -45.6% | -83.3% |
| Market cap | $131.5B | – |
| P/E (trailing) | 42.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | ISRG | VXX |
|---|---|---|
| 2022 | -26.1% | -23.8% |
| 2023 | +27.1% | -72.5% |
| 2024 | +54.7% | -26.2% |
| 2025 | +8.5% | -42.2% |
| 2026 | -35.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ISRG and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, ISRG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ISRG and VXX?
As of 2026-08-27, the correlation of weekly returns between ISRG and VXX is -0.42 over 3 years, -0.36 over 1 year and -0.44 over 5 years.
Is VXX a good diversifier for ISRG?
Yes. With a correlation of -0.42, ISRG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 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/isrg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/isrg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ISRG correlations · VXX correlations
