OFLX vs VXX: Correlation
Measured on weekly returns over the past three years, Omega Flex, Inc. (OFLX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.39, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OFLX and VXX?
On 3 years of weekly data the OFLX/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. The 5-year figure is -0.36, and annualized covariance runs at -888.7 %².
VXX is close to the least connected end of OFLX's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months OFLX outperformed by 29.2 percentage points (-20.5% for OFLX against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.6 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.
OFLX vs VXX: side by side
| OFLX (Omega Flex, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -20.5% | -49.7% |
| 5-year return | -79.8% | -95.6% |
| Volatility (ann.) | 37.6% | 60.9% |
| Beta vs S&P 500 | 0.94 | -3.31 |
| Max drawdown (3Y) | -68.3% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 23.1 | – |
| Dividend yield | 5.06% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OFLX | VXX |
|---|---|---|
| 2022 | -25.6% | -23.8% |
| 2023 | -23.4% | -72.5% |
| 2024 | -38.9% | -26.2% |
| 2025 | -26.8% | -42.2% |
| 2026 | -6.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OFLX and VXX good diversifiers for each other?
Yes. With a correlation of -0.39, OFLX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OFLX and VXX?
The OFLX/VXX correlation stands at -0.39 on a 3-year window (1 year: -0.32, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OFLX?
Yes. With a correlation of -0.39, OFLX 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/oflx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oflx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OFLX correlations · VXX correlations
