ORIO vs VXX: Correlation
Orion Digital Corp. (ORIO) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORIO and VXX?
Over the past 3 years, ORIO and VXX moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.30 over 3. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -1449.7 %².
VXX is close to the least connected end of ORIO's tracked universe, ranking #12 of 13. The trailing year gives VXX the advantage: -54.7% versus -49.7%, a 5.0-point spread.
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.
ORIO vs VXX: side by side
| ORIO (Orion Digital Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -54.7% | -49.7% |
| 5-year return | -94.6% | -95.6% |
| Volatility (ann.) | 79.6% | 60.9% |
| Beta vs S&P 500 | 2.19 | -3.31 |
| Max drawdown (3Y) | -75.9% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ORIO | VXX |
|---|---|---|
| 2022 | -84.5% | -23.8% |
| 2023 | +15.9% | -72.5% |
| 2024 | -26.1% | -26.2% |
| 2025 | -21.3% | -42.2% |
| 2026 | -18.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORIO and VXX good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ORIO and VXX?
The ORIO/VXX correlation stands at -0.30 on a 3-year window (1 year: -0.28, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ORIO?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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/orio-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/orio-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ORIO correlations · VXX correlations
