ONDS vs VXX: Correlation
Ondas Inc (ONDS) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ONDS and VXX?
On 3 years of weekly data the ONDS/VXX correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.27 over 3. The 5-year figure is -0.23, and annualized covariance runs at -2257.5 %².
Among the 10 assets we track against ONDS, VXX sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months ONDS outperformed by 122.3 percentage points (+72.6% for ONDS against -49.7% for VXX). Note the risk asymmetry: ONDS runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ONDS vs VXX: side by side
| ONDS (Ondas Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +72.6% | -49.7% |
| 5-year return | +23.8% | -95.6% |
| Volatility (ann.) | 135.8% | 60.9% |
| Beta vs S&P 500 | 2.31 | -3.31 |
| Max drawdown (3Y) | -75.8% | -83.3% |
| Market cap | $5.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ONDS | VXX |
|---|---|---|
| 2022 | -76.3% | -23.8% |
| 2023 | -3.8% | -72.5% |
| 2024 | +67.3% | -26.2% |
| 2025 | +281.3% | -42.2% |
| 2026 | -10.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ONDS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between ONDS and VXX?
The ONDS/VXX correlation stands at -0.27 on a 3-year window (1 year: -0.33, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ONDS?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/onds-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/onds-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ONDS correlations · VXX correlations
