PH vs VXX: Correlation
Measured on weekly returns over the past three years, Parker Hannifin (PH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.58, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PH and VXX?
Across a 3-year window, the weekly returns of PH and VXX correlate at -0.58, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.34) than the 3-year average (-0.58). Stretching to 5 years gives -0.54, with an annualized covariance of -936.9 %².
Out of 57 assets tracked against PH, VXX lands near the bottom at #57. Their recent paths diverged sharply: over the last 12 months PH outperformed by 82.5 percentage points (+32.8% for PH against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.3 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.
PH vs VXX: side by side
| PH (Parker Hannifin) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.8% | -49.7% |
| 5-year return | +256.4% | -95.6% |
| Volatility (ann.) | 26.6% | 60.9% |
| Beta vs S&P 500 | 1.16 | -3.31 |
| Max drawdown (3Y) | -26.8% | -83.3% |
| Market cap | $127.5B | – |
| P/E (trailing) | 36.5 | – |
| Dividend yield | 0.71% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | PH | VXX |
|---|---|---|
| 2022 | -6.9% | -23.8% |
| 2023 | +60.8% | -72.5% |
| 2024 | +39.6% | -26.2% |
| 2025 | +39.5% | -42.2% |
| 2026 | +15.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PH and VXX good diversifiers for each other?
Yes. With a correlation of -0.58, PH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PH and VXX?
The PH/VXX correlation stands at -0.58 on a 3-year window (1 year: -0.34, 5 years: -0.54), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PH?
Yes. With a correlation of -0.58, PH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.58 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/ph-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ph-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PH correlations · VXX correlations
