LEVI vs VXX: Correlation
Levi Strauss & Co (LEVI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEVI and VXX?
Over the past 3 years, LEVI and VXX moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.47) sits close to the 3-year figure. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -849.3 %².
Out of 12 assets tracked against LEVI, VXX lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months LEVI outperformed by 47.2 percentage points (-2.5% for LEVI against -49.7% for VXX). One caveat on sizing: VXX is 1.7 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.
LEVI vs VXX: side by side
| LEVI (Levi Strauss & Co) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.5% | -49.7% |
| 5-year return | -10.8% | -95.6% |
| Volatility (ann.) | 35.5% | 60.9% |
| Beta vs S&P 500 | 1.05 | -3.31 |
| Max drawdown (3Y) | -47.5% | -83.3% |
| Market cap | $8.1B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 2.61% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEVI | VXX |
|---|---|---|
| 2022 | -36.5% | -23.8% |
| 2023 | +10.0% | -72.5% |
| 2024 | +7.5% | -26.2% |
| 2025 | +23.4% | -42.2% |
| 2026 | +3.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEVI and VXX good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LEVI and VXX?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.47 over the last year and -0.40 over 5 years.
Is VXX a good diversifier for LEVI?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 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/levi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/levi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LEVI correlations · VXX correlations
