LII vs VXX: Correlation
Lennox International (LII) 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 LII and VXX?
Over the past 3 years, LII and VXX moved with a correlation of -0.39, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.39 over 3 years. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -766.4 %².
VXX is close to the least connected end of LII's tracked universe, ranking #35 of 37. Their recent paths diverged sharply: over the last 12 months LII outperformed by 19.4 percentage points (-30.3% for LII against -49.7% for VXX). One caveat on sizing: VXX is 1.9 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.
LII vs VXX: side by side
| LII (Lennox International) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -30.3% | -49.7% |
| 5-year return | +23.7% | -95.6% |
| Volatility (ann.) | 32.0% | 60.9% |
| Beta vs S&P 500 | 0.96 | -3.31 |
| Max drawdown (3Y) | -41.7% | -83.3% |
| Market cap | $13.5B | – |
| P/E (trailing) | 17.5 | – |
| Dividend yield | 1.34% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | LII | VXX |
|---|---|---|
| 2022 | -24.9% | -23.8% |
| 2023 | +89.5% | -72.5% |
| 2024 | +37.3% | -26.2% |
| 2025 | -19.5% | -42.2% |
| 2026 | -19.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LII and VXX good diversifiers for each other?
Yes. With a correlation of -0.39, LII and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LII and VXX?
The LII/VXX correlation stands at -0.39 on a 3-year window (1 year: -0.25, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for LII?
Yes. With a correlation of -0.39, LII and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/lii-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lii-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LII correlations · VXX correlations
