RAVE vs VXX: Correlation
Rave Restaurant Group, Inc. (RAVE) 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 -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAVE and VXX?
Over the past 3 years, RAVE and VXX moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -677.7 %².
Among the 10 assets we track against RAVE, VXX sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with RAVE ahead by 45.7 points (-4.0% versus -49.7%).
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.
RAVE vs VXX: side by side
| RAVE (Rave Restaurant Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -4.0% | -49.7% |
| 5-year return | +146.8% | -95.6% |
| Volatility (ann.) | 50.5% | 60.9% |
| Beta vs S&P 500 | 0.63 | -3.31 |
| Max drawdown (3Y) | -37.2% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 14.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RAVE | VXX |
|---|---|---|
| 2022 | +56.4% | -23.8% |
| 2023 | +41.1% | -72.5% |
| 2024 | +15.7% | -26.2% |
| 2025 | +27.9% | -42.2% |
| 2026 | -5.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RAVE and VXX good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RAVE and VXX?
The RAVE/VXX correlation stands at -0.22 on a 3-year window (1 year: -0.14, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for RAVE?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/rave-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rave-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RAVE correlations · VXX correlations
