PLOW vs VXX: Correlation
Douglas Dynamics, Inc. (PLOW) 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 -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLOW and VXX?
On 3 years of weekly data the PLOW/VXX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.15 lands near the 3-year figure. The 5-year figure is -0.30, and annualized covariance runs at -455.1 %².
Among the 10 assets we track against PLOW, VXX sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with PLOW ahead by 77.9 points (+28.2% versus -49.7%). 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.
PLOW vs VXX: side by side
| PLOW (Douglas Dynamics, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.2% | -49.7% |
| 5-year return | +30.5% | -95.6% |
| Volatility (ann.) | 32.7% | 60.9% |
| Beta vs S&P 500 | 0.55 | -3.31 |
| Max drawdown (3Y) | -29.6% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.83% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PLOW | VXX |
|---|---|---|
| 2022 | -4.0% | -23.8% |
| 2023 | -14.7% | -72.5% |
| 2024 | -16.5% | -26.2% |
| 2025 | +43.8% | -42.2% |
| 2026 | +30.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLOW and VXX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PLOW and VXX?
The PLOW/VXX correlation stands at -0.23 on a 3-year window (1 year: -0.15, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PLOW?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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/plow-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/plow-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PLOW correlations · VXX correlations
