OTIS vs VXX: Correlation
Otis Worldwide (OTIS) 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 -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OTIS and VXX?
Across a 3-year window, the weekly returns of OTIS and VXX correlate at -0.33, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.40) sits close to the 3-year figure. Stretching to 5 years gives -0.39, with an annualized covariance of -384.9 %².
VXX is close to the least connected end of OTIS's tracked universe, ranking #30 of 31. Correlation aside, the last 12 months split them widely, with OTIS ahead by 32.9 points (-16.8% versus -49.7%). Note the risk asymmetry: VXX runs 3.2 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.
OTIS vs VXX: side by side
| OTIS (Otis Worldwide) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -16.8% | -49.7% |
| 5-year return | -15.9% | -95.6% |
| Volatility (ann.) | 19.1% | 60.9% |
| Beta vs S&P 500 | 0.59 | -3.31 |
| Max drawdown (3Y) | -32.4% | -83.3% |
| Market cap | $27.2B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 2.35% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | OTIS | VXX |
|---|---|---|
| 2022 | -8.8% | -23.8% |
| 2023 | +16.0% | -72.5% |
| 2024 | +5.2% | -26.2% |
| 2025 | -4.0% | -42.2% |
| 2026 | -16.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OTIS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between OTIS and VXX?
As of 2026-08-27, the correlation of weekly returns between OTIS and VXX is -0.33 over 3 years, -0.40 over 1 year and -0.39 over 5 years.
Is VXX a good diversifier for OTIS?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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/otis-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/otis-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OTIS correlations · VXX correlations
