OSIS vs VXX: Correlation
Measured on weekly returns over the past three years, OSI Systems, Inc. (OSIS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OSIS and VXX?
On 3 years of weekly data the OSIS/VXX correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.33) runs above the 3-year figure (-0.44). The 5-year figure is -0.42, and annualized covariance runs at -1025.9 %².
VXX is close to the least connected end of OSIS's tracked universe, ranking #12 of 12. The last year tells two different stories: OSIS led by 41.2 percentage points, -8.5% for OSIS against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.6 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.
OSIS vs VXX: side by side
| OSIS (OSI Systems, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.5% | -49.7% |
| 5-year return | +113.6% | -95.6% |
| Volatility (ann.) | 38.1% | 60.9% |
| Beta vs S&P 500 | 1.39 | -3.31 |
| Max drawdown (3Y) | -36.2% | -83.3% |
| Market cap | $3.4B | – |
| P/E (trailing) | 23.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OSIS | VXX |
|---|---|---|
| 2022 | -14.7% | -23.8% |
| 2023 | +62.3% | -72.5% |
| 2024 | +29.7% | -26.2% |
| 2025 | +52.3% | -42.2% |
| 2026 | -17.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OSIS and VXX good diversifiers for each other?
Yes. With a correlation of -0.44, OSIS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OSIS and VXX?
The OSIS/VXX correlation stands at -0.44 on a 3-year window (1 year: -0.33, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OSIS?
Yes. With a correlation of -0.44, OSIS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 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/osis-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/osis-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OSIS correlations · VXX correlations
