KLXE vs VXX: Correlation
Measured on weekly returns over the past three years, KLX Energy Services Holdings, Inc. (KLXE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KLXE and VXX?
On 3 years of weekly data the KLXE/VXX correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.11) runs above the 3-year figure (-0.19). The 5-year figure is -0.11, and annualized covariance runs at -992.5 %².
VXX is close to the least connected end of KLXE's tracked universe, ranking #9 of 11. Their recent paths diverged sharply: over the last 12 months KLXE outperformed by 27.4 percentage points (-22.3% for KLXE against -49.7% for VXX).
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.
KLXE vs VXX: side by side
| KLXE (KLX Energy Services Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -22.3% | -49.7% |
| 5-year return | -76.5% | -95.6% |
| Volatility (ann.) | 84.9% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -88.0% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KLXE | VXX |
|---|---|---|
| 2022 | +458.4% | -23.8% |
| 2023 | -35.0% | -72.5% |
| 2024 | -55.8% | -26.2% |
| 2025 | -62.0% | -42.2% |
| 2026 | -20.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KLXE and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between KLXE and VXX?
As of 2026-08-27, the correlation of weekly returns between KLXE and VXX is -0.19 over 3 years, 0.11 over 1 year and -0.11 over 5 years.
Is VXX a good diversifier for KLXE?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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/klxe-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/klxe-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KLXE correlations · VXX correlations
