OWLT vs VXX: Correlation
Measured on weekly returns over the past three years, Owlet, Inc. (OWLT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OWLT and VXX?
Over the past 3 years, OWLT and VXX moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.47) runs below the 3-year figure (-0.32). Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -1481.1 %².
VXX is close to the least connected end of OWLT's tracked universe, ranking #10 of 10. Correlation aside, the last 12 months split them widely, with OWLT ahead by 19.2 points (-30.5% versus -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.
OWLT vs VXX: side by side
| OWLT (Owlet, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -30.5% | -49.7% |
| 5-year return | -94.4% | -95.6% |
| Volatility (ann.) | 75.1% | 60.9% |
| Beta vs S&P 500 | 1.79 | -3.31 |
| Max drawdown (3Y) | -73.1% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OWLT | VXX |
|---|---|---|
| 2022 | -79.1% | -23.8% |
| 2023 | -32.5% | -72.5% |
| 2024 | -15.7% | -26.2% |
| 2025 | +263.8% | -42.2% |
| 2026 | -69.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OWLT and VXX good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OWLT and VXX?
As of 2026-08-27, the correlation of weekly returns between OWLT and VXX is -0.32 over 3 years, -0.47 over 1 year and -0.21 over 5 years.
Is VXX a good diversifier for OWLT?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
A reading of -0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/owlt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/owlt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OWLT correlations · VXX correlations
