PK vs VXX: Correlation
How closely do Park Hotels & Resorts Inc. (PK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.49, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PK and VXX?
Across a 3-year window, the weekly returns of PK and VXX correlate at -0.49, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.27 versus -0.49 over 3 years. Stretching to 5 years gives -0.44, with an annualized covariance of -956.2 %².
VXX is close to the least connected end of PK's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months PK outperformed by 93.1 percentage points (+43.4% for PK against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.9 times the volatility of the other side.
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.
PK vs VXX: side by side
| PK (Park Hotels & Resorts Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +43.4% | -49.7% |
| 5-year return | +21.9% | -95.6% |
| Volatility (ann.) | 31.8% | 60.9% |
| Beta vs S&P 500 | 0.99 | -3.31 |
| Max drawdown (3Y) | -44.8% | -83.3% |
| Market cap | $3.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.28% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PK | VXX |
|---|---|---|
| 2022 | -36.0% | -23.8% |
| 2023 | +49.4% | -72.5% |
| 2024 | +1.0% | -26.2% |
| 2025 | -18.4% | -42.2% |
| 2026 | +56.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PK and VXX good diversifiers for each other?
Yes. With a correlation of -0.49, PK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PK and VXX?
Using weekly returns as of 2026-08-27: -0.49 over 3 years, with -0.27 over the last year and -0.44 over 5 years.
Is VXX a good diversifier for PK?
Yes. With a correlation of -0.49, PK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.49 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/pk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PK correlations · VXX correlations
