QUAL vs VXX: Correlation
iShares MSCI USA Quality Factor ETF (QUAL) 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 -0.76.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QUAL and VXX?
Over the past 3 years, QUAL and VXX moved with a correlation of -0.76, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.75 lands near the 3-year figure. Over 5 years the correlation is -0.65, and the annualized covariance of weekly returns is -644.1 %².
Out of 106 assets tracked against QUAL, VXX lands near the bottom at #105. Correlation aside, the last 12 months split them widely, with QUAL ahead by 69.4 points (+19.7% versus -49.7%). Risk is not evenly split, since VXX carries 4.3 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.
QUAL vs VXX: side by side
| QUAL (iShares MSCI USA Quality Factor ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.7% | -49.7% |
| 5-year return | +68.0% | -95.6% |
| Volatility (ann.) | 14.0% | 60.9% |
| Beta vs S&P 500 | 0.93 | -3.31 |
| Max drawdown (3Y) | -18.0% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.86% | 0.00% |
| Expense ratio | 0.15% | – |
| Assets under management | $46.5B | – |
| Sector / category | ETF · US Style | US Listed |
QUAL, iShares's Large Blend fund, carries $46.5B under management, 123 holdings, a 0.15% expense ratio, a 0.86% trailing dividend yield.
Year-by-year returns
| Year | QUAL | VXX |
|---|---|---|
| 2022 | -20.5% | -23.8% |
| 2023 | +30.9% | -72.5% |
| 2024 | +22.3% | -26.2% |
| 2025 | +12.7% | -42.2% |
| 2026 | +13.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QUAL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.76 means the two rarely move for the same reasons.
FAQ
What is the correlation between QUAL and VXX?
Using weekly returns as of 2026-08-27: -0.76 over 3 years, with -0.75 over the last year and -0.65 over 5 years.
Is VXX a good diversifier for QUAL?
By historical standards, yes. A correlation of -0.76 means the two rarely move for the same reasons.
What does a correlation of -0.76 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/qual-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qual-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QUAL correlations · VXX correlations
