JBTM vs VXX: Correlation
Measured on weekly returns over the past three years, JBT Marel Corporation (JBTM) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBTM and VXX?
Across a 3-year window, the weekly returns of JBTM and VXX correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.31). Stretching to 5 years gives -0.36, with an annualized covariance of -671.2 %².
Out of 12 assets tracked against JBTM, VXX lands near the bottom at #11. The last year tells two different stories: JBTM led by 31.5 percentage points, -18.2% for JBTM against -49.7% for VXX. One caveat on sizing: VXX is 1.7 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.
JBTM vs VXX: side by side
| JBTM (JBT Marel Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -18.2% | -49.7% |
| 5-year return | -18.0% | -95.6% |
| Volatility (ann.) | 35.7% | 60.9% |
| Beta vs S&P 500 | 0.79 | -3.31 |
| Max drawdown (3Y) | -32.2% | -83.3% |
| Market cap | $6.1B | – |
| P/E (trailing) | 32.3 | – |
| Dividend yield | 0.33% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBTM | VXX |
|---|---|---|
| 2022 | -40.3% | -23.8% |
| 2023 | +9.3% | -72.5% |
| 2024 | +28.3% | -26.2% |
| 2025 | +18.9% | -42.2% |
| 2026 | -21.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBTM and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between JBTM and VXX?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.14 over the last year and -0.36 over 5 years.
Is VXX a good diversifier for JBTM?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/jbtm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jbtm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JBTM correlations · VXX correlations
