PAC vs VXX: Correlation
Measured on weekly returns over the past three years, Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo (PAC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAC and VXX?
On 3 years of weekly data the PAC/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.24 versus -0.37 over 3 years. The 5-year figure is -0.35, and annualized covariance runs at -883.5 %².
VXX is close to the least connected end of PAC's tracked universe, ranking #11 of 12. Correlation aside, the last 12 months split them widely, with PAC ahead by 38.1 points (-11.6% versus -49.7%). 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.
PAC vs VXX: side by side
| PAC (Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -11.6% | -49.7% |
| 5-year return | +135.8% | -95.6% |
| Volatility (ann.) | 39.2% | 60.9% |
| Beta vs S&P 500 | 1.01 | -3.31 |
| Max drawdown (3Y) | -42.8% | -83.3% |
| Market cap | $12.8B | – |
| P/E (trailing) | 19.7 | – |
| Dividend yield | 9.68% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAC | VXX |
|---|---|---|
| 2022 | +9.8% | -23.8% |
| 2023 | +28.6% | -72.5% |
| 2024 | +4.2% | -26.2% |
| 2025 | +56.3% | -42.2% |
| 2026 | -18.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between PAC and VXX?
The PAC/VXX correlation stands at -0.37 on a 3-year window (1 year: -0.24, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PAC?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/pac-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pac-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAC correlations · VXX correlations
