PWR vs VXX: Correlation
Measured on weekly returns over the past three years, Quanta Services (PWR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PWR and VXX?
Across a 3-year window, the weekly returns of PWR and VXX correlate at -0.44, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.21) than the 3-year average (-0.44). Stretching to 5 years gives -0.44, with an annualized covariance of -915.5 %².
Out of 33 assets tracked against PWR, VXX lands near the bottom at #32. Correlation aside, the last 12 months split them widely, with PWR ahead by 112.8 points (+63.1% versus -49.7%). Risk is not evenly split, since VXX carries 1.8 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.
PWR vs VXX: side by side
| PWR (Quanta Services) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +63.1% | -49.7% |
| 5-year return | +506.1% | -95.6% |
| Volatility (ann.) | 33.9% | 60.9% |
| Beta vs S&P 500 | 1.29 | -3.31 |
| Max drawdown (3Y) | -33.9% | -83.3% |
| Market cap | $93.5B | – |
| P/E (trailing) | 70.4 | – |
| Dividend yield | 0.07% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | PWR | VXX |
|---|---|---|
| 2022 | +24.6% | -23.8% |
| 2023 | +51.7% | -72.5% |
| 2024 | +46.6% | -26.2% |
| 2025 | +33.7% | -42.2% |
| 2026 | +47.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PWR and VXX good diversifiers for each other?
Yes. With a correlation of -0.44, PWR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PWR and VXX?
As of 2026-08-27, the correlation of weekly returns between PWR and VXX is -0.44 over 3 years, -0.21 over 1 year and -0.44 over 5 years.
Is VXX a good diversifier for PWR?
Yes. With a correlation of -0.44, PWR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
A reading of -0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pwr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pwr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PWR correlations · VXX correlations
