JPM vs VXX: Correlation
How closely do JPMorgan Chase (JPM) 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 -0.57, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JPM and VXX?
Over the past 3 years, JPM and VXX moved with a correlation of -0.57, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.44) runs above the 3-year figure (-0.57). Over 5 years the correlation is -0.51, and the annualized covariance of weekly returns is -798.1 %².
Among the 36 assets we track against JPM, VXX sits near the bottom by co-movement, at rank #36. Their recent paths diverged sharply: over the last 12 months JPM outperformed by 70.3 percentage points (+20.6% for JPM against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.6 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.
JPM vs VXX: side by side
| JPM (JPMorgan Chase) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +20.6% | -49.7% |
| 5-year return | +150.2% | -95.6% |
| Volatility (ann.) | 23.2% | 60.9% |
| Beta vs S&P 500 | 1.01 | -3.31 |
| Max drawdown (3Y) | -24.4% | -83.3% |
| Market cap | $941.6B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 1.68% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | JPM | VXX |
|---|---|---|
| 2022 | -12.6% | -23.8% |
| 2023 | +30.6% | -72.5% |
| 2024 | +44.3% | -26.2% |
| 2025 | +37.3% | -42.2% |
| 2026 | +11.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JPM and VXX good diversifiers for each other?
Yes. With a correlation of -0.57, JPM and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JPM and VXX?
The JPM/VXX correlation stands at -0.57 on a 3-year window (1 year: -0.44, 5 years: -0.51), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for JPM?
Yes. With a correlation of -0.57, JPM and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.57 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/jpm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jpm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JPM correlations · VXX correlations
