QQQ vs VXX: Correlation
Measured on weekly returns over the past three years, Invesco QQQ Trust (QQQ) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.71, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QQQ and VXX?
Across a 3-year window, the weekly returns of QQQ and VXX correlate at -0.71, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.63 over 1 year against -0.71 over 3. Stretching to 5 years gives -0.62, with an annualized covariance of -850.2 %².
VXX is close to the least connected end of QQQ's tracked universe, ranking #4754 of 4755. Correlation aside, the last 12 months split them widely, with QQQ ahead by 76.0 points (+26.3% versus -49.7%). Risk is not evenly split, since VXX carries 3.1 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.
QQQ vs VXX: side by side
| QQQ (Invesco QQQ Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.3% | -49.7% |
| 5-year return | +95.4% | -95.6% |
| Volatility (ann.) | 19.6% | 60.9% |
| Beta vs S&P 500 | 1.28 | -3.31 |
| Max drawdown (3Y) | -22.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.44% | 0.00% |
| Expense ratio | 0.18% | – |
| Assets under management | $452.8B | – |
| Sector / category | ETF · US Growth & Tech | US Listed |
On the fund side, QQQ sits in the Large Growth category at Invesco, with $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | QQQ | VXX |
|---|---|---|
| 2022 | -32.6% | -23.8% |
| 2023 | +54.9% | -72.5% |
| 2024 | +25.6% | -26.2% |
| 2025 | +20.8% | -42.2% |
| 2026 | +17.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QQQ and VXX good diversifiers for each other?
Yes. With a correlation of -0.71, QQQ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QQQ and VXX?
Using weekly returns as of 2026-08-27: -0.71 over 3 years, with -0.63 over the last year and -0.62 over 5 years.
Is VXX a good diversifier for QQQ?
Yes. With a correlation of -0.71, QQQ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.71 mean?
On the −1 to +1 scale, -0.71 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/qqq-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qqq-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QQQ correlations · VXX correlations
