OBIO vs VXX: Correlation
How closely do Orchestra BioMed Holdings, Inc. (OBIO) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OBIO and VXX?
Across a 3-year window, the weekly returns of OBIO and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.35). Stretching to 5 years gives -0.25, with an annualized covariance of -1681.8 %².
Among the 10 assets we track against OBIO, VXX sits near the bottom by co-movement, at rank #9. The last year tells two different stories: OBIO led by 129.6 percentage points, +79.9% for OBIO 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.
OBIO vs VXX: side by side
| OBIO (Orchestra BioMed Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +79.9% | -49.7% |
| 5-year return | -47.8% | -95.6% |
| Volatility (ann.) | 79.5% | 60.9% |
| Beta vs S&P 500 | 1.75 | -3.31 |
| Max drawdown (3Y) | -78.2% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OBIO | VXX |
|---|---|---|
| 2022 | -1.0% | -23.8% |
| 2023 | -8.5% | -72.5% |
| 2024 | -56.2% | -26.2% |
| 2025 | +3.8% | -42.2% |
| 2026 | +23.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBIO and VXX good diversifiers for each other?
Yes. With a correlation of -0.35, OBIO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OBIO and VXX?
The OBIO/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.09, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OBIO?
Yes. With a correlation of -0.35, OBIO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
A reading of -0.35 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/obio-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/obio-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OBIO correlations · VXX correlations
