JETS vs VXX: Correlation
Measured on weekly returns over the past three years, US Global Jets ETF (JETS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.56, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JETS and VXX?
Over the past 3 years, JETS and VXX moved with a correlation of -0.56, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.55 over 1 year against -0.56 over 3. Over 5 years the correlation is -0.52, and the annualized covariance of weekly returns is -1003.0 %².
Among the 54 assets we track against JETS, VXX sits near the bottom by co-movement, at rank #54. Their recent paths diverged sharply: over the last 12 months JETS outperformed by 62.9 percentage points (+13.2% for JETS against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.1 times the volatility of the other side.
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.
JETS vs VXX: side by side
| JETS (US Global Jets ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.2% | -49.7% |
| 5-year return | +30.9% | -95.6% |
| Volatility (ann.) | 29.2% | 60.9% |
| Beta vs S&P 500 | 1.16 | -3.31 |
| Max drawdown (3Y) | -35.2% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | JETS | VXX |
|---|---|---|
| 2022 | -19.0% | -23.8% |
| 2023 | +11.4% | -72.5% |
| 2024 | +33.2% | -26.2% |
| 2025 | +11.6% | -42.2% |
| 2026 | +4.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JETS and VXX good diversifiers for each other?
Yes. With a correlation of -0.56, JETS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JETS and VXX?
Using weekly returns as of 2026-08-27: -0.56 over 3 years, with -0.55 over the last year and -0.52 over 5 years.
Is VXX a good diversifier for JETS?
Yes. With a correlation of -0.56, JETS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.56 mean?
On the −1 to +1 scale, -0.56 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/jets-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jets-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JETS correlations · VXX correlations
