OGN vs VXX: Correlation
How closely do Organon & Co. (OGN) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OGN and VXX?
Over the past 3 years, OGN and VXX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.44) runs below the 3-year figure (-0.25). Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -823.6 %².
VXX is close to the least connected end of OGN's tracked universe, ranking #12 of 12. Their recent paths diverged sharply: over the last 12 months OGN outperformed by 100.5 percentage points (+50.8% for OGN 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.
OGN vs VXX: side by side
| OGN (Organon & Co.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +50.8% | -49.7% |
| 5-year return | -50.3% | -95.6% |
| Volatility (ann.) | 53.4% | 60.9% |
| Beta vs S&P 500 | 0.88 | -3.31 |
| Max drawdown (3Y) | -74.1% | -83.3% |
| Market cap | $3.6B | – |
| P/E (trailing) | 17.6 | – |
| Dividend yield | 0.58% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OGN | VXX |
|---|---|---|
| 2022 | -4.9% | -23.8% |
| 2023 | -45.1% | -72.5% |
| 2024 | +9.9% | -26.2% |
| 2025 | -50.7% | -42.2% |
| 2026 | +93.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OGN and VXX good diversifiers for each other?
Yes. With a correlation of -0.25, OGN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OGN and VXX?
The OGN/VXX correlation stands at -0.25 on a 3-year window (1 year: -0.44, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OGN?
Yes. With a correlation of -0.25, OGN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/ogn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ogn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OGN correlations · VXX correlations
