RIG vs VXX: Correlation
How closely do Transocean Ltd (Switzerland) (RIG) 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 -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIG and VXX?
On 3 years of weekly data the RIG/VXX correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.11) runs above the 3-year figure (-0.33). The 5-year figure is -0.28, and annualized covariance runs at -1043.1 %².
Among the 14 assets we track against RIG, VXX sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with RIG ahead by 130.8 points (+81.1% 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.
RIG vs VXX: side by side
| RIG (Transocean Ltd (Switzerland)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +81.1% | -49.7% |
| 5-year return | +61.7% | -95.6% |
| Volatility (ann.) | 51.9% | 60.9% |
| Beta vs S&P 500 | 0.93 | -3.31 |
| Max drawdown (3Y) | -75.5% | -83.3% |
| Market cap | $6.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RIG | VXX |
|---|---|---|
| 2022 | +65.2% | -23.8% |
| 2023 | +39.3% | -72.5% |
| 2024 | -40.9% | -26.2% |
| 2025 | +10.1% | -42.2% |
| 2026 | +39.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIG and VXX good diversifiers for each other?
Yes. With a correlation of -0.33, RIG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RIG and VXX?
As of 2026-08-27, the correlation of weekly returns between RIG and VXX is -0.33 over 3 years, -0.11 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for RIG?
Yes. With a correlation of -0.33, RIG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
A reading of -0.33 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/rig-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rig-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RIG correlations · VXX correlations
