PTEN vs VXX: Correlation
Patterson-UTI Energy, Inc. (PTEN) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PTEN and VXX?
Over the past 3 years, PTEN and VXX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.08) than the 3-year average (-0.25). Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -753.9 %².
VXX is close to the least connected end of PTEN's tracked universe, ranking #23 of 23. Correlation aside, the last 12 months split them widely, with PTEN ahead by 175.1 points (+125.4% 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.
PTEN vs VXX: side by side
| PTEN (Patterson-UTI Energy, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +125.4% | -49.7% |
| 5-year return | +84.8% | -95.6% |
| Volatility (ann.) | 48.6% | 60.9% |
| Beta vs S&P 500 | 0.60 | -3.31 |
| Max drawdown (3Y) | -64.6% | -83.3% |
| Market cap | $4.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.06% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PTEN | VXX |
|---|---|---|
| 2022 | +101.7% | -23.8% |
| 2023 | -34.2% | -72.5% |
| 2024 | -21.0% | -26.2% |
| 2025 | -22.1% | -42.2% |
| 2026 | +104.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PTEN and VXX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PTEN and VXX?
The PTEN/VXX correlation stands at -0.25 on a 3-year window (1 year: 0.08, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PTEN?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/pten-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pten-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PTEN correlations · VXX correlations
