IVV vs VXX: Correlation
iShares Core S&P 500 ETF (IVV) 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 -0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVV and VXX?
Across a 3-year window, the weekly returns of IVV and VXX correlate at -0.78, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.73 over 1 year against -0.78 over 3. Stretching to 5 years gives -0.69, with an annualized covariance of -692.3 %².
VXX is close to the least connected end of IVV's tracked universe, ranking #121 of 122. Correlation aside, the last 12 months split them widely, with IVV ahead by 70.4 points (+20.7% versus -49.7%). One caveat on sizing: VXX is 4.2 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.
IVV vs VXX: side by side
| IVV (iShares Core S&P 500 ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +20.7% | -49.7% |
| 5-year return | +83.0% | -95.6% |
| Volatility (ann.) | 14.5% | 60.9% |
| Beta vs S&P 500 | 1.00 | -3.31 |
| Max drawdown (3Y) | -18.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.09% | 0.00% |
| Expense ratio | 0.03% | – |
| Assets under management | $869.2B | – |
| Sector / category | ETF · US Large Cap | US Listed |
IVV is a Large Blend fund from iShares: $869.2B under management, 503 holdings, a 0.03% expense ratio, a 1.09% trailing dividend yield.
Year-by-year returns
| Year | IVV | VXX |
|---|---|---|
| 2022 | -18.2% | -23.8% |
| 2023 | +26.3% | -72.5% |
| 2024 | +24.9% | -26.2% |
| 2025 | +17.8% | -42.2% |
| 2026 | +13.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVV and VXX good diversifiers for each other?
Yes: at -0.78, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IVV and VXX?
Using weekly returns as of 2026-08-27: -0.78 over 3 years, with -0.73 over the last year and -0.69 over 5 years.
Is VXX a good diversifier for IVV?
Yes: at -0.78, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.78 mean?
A reading of -0.78 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/ivv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ivv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IVV correlations · VXX correlations
