ITRI vs VXX: Correlation
Measured on weekly returns over the past three years, Itron, Inc. (ITRI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITRI and VXX?
Over the past 3 years, ITRI and VXX moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.35 over 1 year against -0.38 over 3. Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -908.5 %².
Out of 21 assets tracked against ITRI, VXX lands near the bottom at #20. The last year tells two different stories: ITRI led by 29.8 percentage points, -19.9% for ITRI against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ITRI vs VXX: side by side
| ITRI (Itron, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -19.9% | -49.7% |
| 5-year return | +17.0% | -95.6% |
| Volatility (ann.) | 38.9% | 60.9% |
| Beta vs S&P 500 | 1.14 | -3.31 |
| Max drawdown (3Y) | -43.6% | -83.3% |
| Market cap | $4.3B | – |
| P/E (trailing) | 16.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ITRI | VXX |
|---|---|---|
| 2022 | -26.1% | -23.8% |
| 2023 | +49.1% | -72.5% |
| 2024 | +43.8% | -26.2% |
| 2025 | -14.5% | -42.2% |
| 2026 | +6.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ITRI and VXX good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ITRI and VXX?
As of 2026-08-27, the correlation of weekly returns between ITRI and VXX is -0.38 over 3 years, -0.35 over 1 year and -0.39 over 5 years.
Is VXX a good diversifier for ITRI?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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/itri-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/itri-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ITRI correlations · VXX correlations
