OSG vs VXX: Correlation
How closely do Octave Specialty Group, Inc. (OSG) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OSG and VXX?
On 3 years of weekly data the OSG/VXX correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.06) runs above the 3-year figure (-0.28). The 5-year figure is -0.27, and annualized covariance runs at -884.1 %².
Among the 10 assets we track against OSG, VXX sits near the bottom by co-movement, at rank #9. Neither side won the trailing year by much: -49.0% against -49.7%.
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.
OSG vs VXX: side by side
| OSG (Octave Specialty Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -49.0% | -49.7% |
| 5-year return | -68.2% | -95.6% |
| Volatility (ann.) | 51.8% | 60.9% |
| Beta vs S&P 500 | 0.86 | -3.31 |
| Max drawdown (3Y) | -78.5% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OSG | VXX |
|---|---|---|
| 2022 | +8.7% | -23.8% |
| 2023 | -5.5% | -72.5% |
| 2024 | -23.2% | -26.2% |
| 2025 | -38.5% | -42.2% |
| 2026 | -42.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OSG and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, OSG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OSG and VXX?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.06 over the last year and -0.27 over 5 years.
Is VXX a good diversifier for OSG?
Yes. With a correlation of -0.28, OSG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/osg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/osg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OSG correlations · VXX correlations
