OPTT vs VXX: Correlation
How closely do Ocean Power Technologies, Inc. (OPTT) 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 -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPTT and VXX?
Over the past 3 years, OPTT and VXX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.21 over 3. Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -2252.9 %².
Among the 10 assets we track against OPTT, VXX sits near the bottom by co-movement, at rank #9. The last year tells two different stories: VXX led by 17.2 percentage points, -66.9% for OPTT against -49.7% for VXX. Risk is not evenly split, since OPTT carries 2.9 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.
OPTT vs VXX: side by side
| OPTT (Ocean Power Technologies, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -66.9% | -49.7% |
| 5-year return | -91.7% | -95.6% |
| Volatility (ann.) | 176.9% | 60.9% |
| Beta vs S&P 500 | 2.48 | -3.31 |
| Max drawdown (3Y) | -91.3% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPTT | VXX |
|---|---|---|
| 2022 | -69.6% | -23.8% |
| 2023 | -28.9% | -72.5% |
| 2024 | +218.8% | -26.2% |
| 2025 | -70.6% | -42.2% |
| 2026 | -40.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPTT and VXX good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OPTT and VXX?
The OPTT/VXX correlation stands at -0.21 on a 3-year window (1 year: -0.21, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OPTT?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/optt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/optt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OPTT correlations · VXX correlations
