OSW vs VXX: Correlation
OneSpaWorld Holdings Limited (OSW) 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 -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OSW and VXX?
On 3 years of weekly data the OSW/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.22 versus -0.39 over 3 years. The 5-year figure is -0.36, and annualized covariance runs at -749.1 %².
Among the 10 assets we track against OSW, VXX sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months OSW outperformed by 64.9 percentage points (+15.2% for OSW against -49.7% for VXX). One caveat on sizing: VXX is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
OSW vs VXX: side by side
| OSW (OneSpaWorld Holdings Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.2% | -49.7% |
| 5-year return | +153.8% | -95.6% |
| Volatility (ann.) | 31.3% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -34.6% | -83.3% |
| Market cap | $2.7B | – |
| P/E (trailing) | 33.1 | – |
| Dividend yield | 0.72% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OSW | VXX |
|---|---|---|
| 2022 | -6.9% | -23.8% |
| 2023 | +51.1% | -72.5% |
| 2024 | +41.8% | -26.2% |
| 2025 | +5.1% | -42.2% |
| 2026 | +27.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OSW and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between OSW and VXX?
The OSW/VXX correlation stands at -0.39 on a 3-year window (1 year: -0.22, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OSW?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 mean?
On the −1 to +1 scale, -0.39 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/osw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/osw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OSW correlations · VXX correlations
