QXO vs VXX: Correlation
QXO, Inc. (QXO) 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 -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are QXO and VXX?
Over the past 3 years, QXO and VXX moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -1637.7 %².
Among the 11 assets we track against QXO, VXX sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with QXO ahead by 16.0 points (-33.7% versus -49.7%). Note the risk asymmetry: QXO runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
QXO vs VXX: side by side
| QXO (QXO, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -33.7% | -49.7% |
| 5-year return | -70.0% | -95.6% |
| Volatility (ann.) | 132.0% | 60.9% |
| Beta vs S&P 500 | 1.05 | -3.31 |
| Max drawdown (3Y) | -95.4% | -83.3% |
| Market cap | $14.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | QXO | VXX |
|---|---|---|
| 2022 | -33.8% | -23.8% |
| 2023 | +508.5% | -72.5% |
| 2024 | -86.1% | -26.2% |
| 2025 | +21.3% | -42.2% |
| 2026 | -28.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are QXO and VXX good diversifiers for each other?
Yes. With a correlation of -0.20, QXO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between QXO and VXX?
The QXO/VXX correlation stands at -0.20 on a 3-year window (1 year: -0.29, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for QXO?
Yes. With a correlation of -0.20, QXO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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/qxo-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/qxo-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: QXO correlations · VXX correlations
