OLN vs VXX: Correlation
Olin Corporation (OLN) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLN and VXX?
Over the past 3 years, OLN and VXX moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.34). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -943.0 %².
VXX is close to the least connected end of OLN's tracked universe, ranking #20 of 20. The last year tells two different stories: OLN led by 26.4 percentage points, -23.3% for OLN 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.
OLN vs VXX: side by side
| OLN (Olin Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -23.3% | -49.7% |
| 5-year return | -62.2% | -95.6% |
| Volatility (ann.) | 45.4% | 60.9% |
| Beta vs S&P 500 | 1.04 | -3.31 |
| Max drawdown (3Y) | -69.3% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.62% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLN | VXX |
|---|---|---|
| 2022 | -6.6% | -23.8% |
| 2023 | +3.5% | -72.5% |
| 2024 | -36.3% | -26.2% |
| 2025 | -36.2% | -42.2% |
| 2026 | -15.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLN and VXX good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OLN and VXX?
As of 2026-08-27, the correlation of weekly returns between OLN and VXX is -0.34 over 3 years, -0.04 over 1 year and -0.39 over 5 years.
Is VXX a good diversifier for OLN?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
A reading of -0.34 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/oln-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/oln-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OLN correlations · VXX correlations
