OLED vs VXX: Correlation
How closely do Universal Display Corporation (OLED) 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 -0.53, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLED and VXX?
On 3 years of weekly data the OLED/VXX correlation comes out at -0.53, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.29) than the 3-year average (-0.53). The 5-year figure is -0.48, and annualized covariance runs at -1301.5 %².
VXX is close to the least connected end of OLED's tracked universe, ranking #10 of 10. Over the last 12 months OLED came out ahead by 10.9 percentage points (-38.8% against -49.7%). Risk is not evenly split, since VXX carries 1.5 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.
OLED vs VXX: side by side
| OLED (Universal Display Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -38.8% | -49.7% |
| 5-year return | -57.1% | -95.6% |
| Volatility (ann.) | 40.6% | 60.9% |
| Beta vs S&P 500 | 1.51 | -3.31 |
| Max drawdown (3Y) | -66.1% | -83.3% |
| Market cap | $3.9B | – |
| P/E (trailing) | 20.5 | – |
| Dividend yield | 2.19% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLED | VXX |
|---|---|---|
| 2022 | -33.9% | -23.8% |
| 2023 | +78.6% | -72.5% |
| 2024 | -22.9% | -26.2% |
| 2025 | -19.1% | -42.2% |
| 2026 | -26.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLED and VXX good diversifiers for each other?
Yes: at -0.53, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OLED and VXX?
The OLED/VXX correlation stands at -0.53 on a 3-year window (1 year: -0.29, 5 years: -0.48), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OLED?
Yes: at -0.53, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.53 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/oled-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oled-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OLED correlations · VXX correlations
