R vs VXX: Correlation
Ryder System, Inc. (R) 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 -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are R and VXX?
Across a 3-year window, the weekly returns of R and VXX correlate at -0.45, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.23) runs above the 3-year figure (-0.45). Stretching to 5 years gives -0.38, with an annualized covariance of -845.0 %².
Among the 21 assets we track against R, VXX sits near the bottom by co-movement, at rank #20. Correlation aside, the last 12 months split them widely, with R ahead by 84.6 points (+34.9% versus -49.7%). Note the risk asymmetry: VXX runs 2.0 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.
R vs VXX: side by side
| R (Ryder System, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.9% | -49.7% |
| 5-year return | +245.8% | -95.6% |
| Volatility (ann.) | 31.1% | 60.9% |
| Beta vs S&P 500 | 1.09 | -3.31 |
| Max drawdown (3Y) | -23.9% | -83.3% |
| Market cap | $9.5B | – |
| P/E (trailing) | 20.3 | – |
| Dividend yield | 1.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | R | VXX |
|---|---|---|
| 2022 | +4.4% | -23.8% |
| 2023 | +41.6% | -72.5% |
| 2024 | +39.5% | -26.2% |
| 2025 | +24.5% | -42.2% |
| 2026 | +31.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are R and VXX good diversifiers for each other?
Yes. With a correlation of -0.45, R and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between R and VXX?
The R/VXX correlation stands at -0.45 on a 3-year window (1 year: -0.23, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for R?
Yes. With a correlation of -0.45, R and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 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/r-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/r-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: R correlations · VXX correlations
