OC vs VXX: Correlation
Measured on weekly returns over the past three years, Owens Corning Inc (OC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OC and VXX?
Over the past 3 years, OC and VXX moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.43 lands near the 3-year figure. Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -1034.2 %².
VXX is close to the least connected end of OC's tracked universe, ranking #23 of 24. Correlation aside, the last 12 months split them widely, with OC ahead by 46.1 points (-3.6% versus -49.7%). Risk is not evenly split, since VXX carries 1.7 times the volatility of the other side.
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.
OC vs VXX: side by side
| OC (Owens Corning Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.6% | -49.7% |
| 5-year return | +60.3% | -95.6% |
| Volatility (ann.) | 35.1% | 60.9% |
| Beta vs S&P 500 | 1.41 | -3.31 |
| Max drawdown (3Y) | -52.5% | -83.3% |
| Market cap | $11.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.10% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OC | VXX |
|---|---|---|
| 2022 | -4.2% | -23.8% |
| 2023 | +77.2% | -72.5% |
| 2024 | +16.6% | -26.2% |
| 2025 | -33.0% | -42.2% |
| 2026 | +30.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between OC and VXX?
As of 2026-08-27, the correlation of weekly returns between OC and VXX is -0.48 over 3 years, -0.43 over 1 year and -0.45 over 5 years.
Is VXX a good diversifier for OC?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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/oc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OC correlations · VXX correlations
