KWR vs VXX: Correlation
Measured on weekly returns over the past three years, Quaker Houghton (KWR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.46, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KWR and VXX?
Across a 3-year window, the weekly returns of KWR and VXX correlate at -0.46, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.26) runs above the 3-year figure (-0.46). Stretching to 5 years gives -0.41, with an annualized covariance of -960.0 %².
Among the 20 assets we track against KWR, VXX sits near the bottom by co-movement, at rank #19. The last year tells two different stories: KWR led by 64.8 percentage points, +15.1% for KWR against -49.7% for VXX. One caveat on sizing: VXX is 1.8 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.
KWR vs VXX: side by side
| KWR (Quaker Houghton) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.1% | -49.7% |
| 5-year return | -32.5% | -95.6% |
| Volatility (ann.) | 34.3% | 60.9% |
| Beta vs S&P 500 | 1.16 | -3.31 |
| Max drawdown (3Y) | -55.3% | -83.3% |
| Market cap | $2.8B | – |
| P/E (trailing) | 29.4 | – |
| Dividend yield | 1.24% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KWR | VXX |
|---|---|---|
| 2022 | -26.9% | -23.8% |
| 2023 | +29.1% | -72.5% |
| 2024 | -33.4% | -26.2% |
| 2025 | -0.8% | -42.2% |
| 2026 | +20.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KWR and VXX good diversifiers for each other?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KWR and VXX?
As of 2026-08-27, the correlation of weekly returns between KWR and VXX is -0.46 over 3 years, -0.26 over 1 year and -0.41 over 5 years.
Is VXX a good diversifier for KWR?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.46 mean?
On the −1 to +1 scale, -0.46 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/kwr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kwr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KWR correlations · VXX correlations
