KALA vs VXX: Correlation
How closely do KALA BIO, Inc. (KALA) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KALA and VXX?
Over the past 3 years, KALA and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.35 lands near the 3-year figure. Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -2017.4 %².
Among the 11 assets we track against KALA, VXX sits near the bottom by co-movement, at rank #10. The last year tells two different stories: VXX led by 50.1 percentage points, -99.8% for KALA against -49.7% for VXX. Risk is not evenly split, since KALA carries 2.0 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.
KALA vs VXX: side by side
| KALA (KALA BIO, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -99.8% | -49.7% |
| 5-year return | -100.0% | -95.6% |
| Volatility (ann.) | 119.6% | 60.9% |
| Beta vs S&P 500 | 1.73 | -3.31 |
| Max drawdown (3Y) | -99.9% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KALA | VXX |
|---|---|---|
| 2022 | -36.9% | -23.8% |
| 2023 | -81.7% | -72.5% |
| 2024 | -0.9% | -26.2% |
| 2025 | -92.0% | -42.2% |
| 2026 | -97.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KALA and VXX good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KALA and VXX?
The KALA/VXX correlation stands at -0.28 on a 3-year window (1 year: -0.35, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for KALA?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 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/kala-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kala-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KALA correlations · VXX correlations
