RDW vs VXX: Correlation
How closely do Redwire Corporation (RDW) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RDW and VXX?
Over the past 3 years, RDW and VXX moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.35 over 3. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -2172.8 %².
VXX is close to the least connected end of RDW's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months RDW outperformed by 75.1 percentage points (+25.4% for RDW against -49.7% for VXX). Risk is not evenly split, since RDW carries 1.7 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.
RDW vs VXX: side by side
| RDW (Redwire Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.4% | -49.7% |
| 5-year return | +12.9% | -95.6% |
| Volatility (ann.) | 101.5% | 60.9% |
| Beta vs S&P 500 | 3.01 | -3.31 |
| Max drawdown (3Y) | -80.3% | -83.3% |
| Market cap | $2.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RDW | VXX |
|---|---|---|
| 2022 | -70.7% | -23.8% |
| 2023 | +43.9% | -72.5% |
| 2024 | +477.5% | -26.2% |
| 2025 | -53.8% | -42.2% |
| 2026 | +48.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RDW and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between RDW and VXX?
The RDW/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.37, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for RDW?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/rdw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rdw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RDW correlations · VXX correlations
