RIO vs VXX: Correlation
How closely do Rio Tinto Plc (RIO) 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 -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RIO and VXX?
Over the past 3 years, RIO and VXX moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.36 lands near the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -613.2 %².
Out of 19 assets tracked against RIO, VXX lands near the bottom at #19. Correlation aside, the last 12 months split them widely, with RIO ahead by 126.9 points (+77.2% versus -49.7%). Note the risk asymmetry: VXX runs 2.4 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.
RIO vs VXX: side by side
| RIO (Rio Tinto Plc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +77.2% | -49.7% |
| 5-year return | +94.8% | -95.6% |
| Volatility (ann.) | 25.1% | 60.9% |
| Beta vs S&P 500 | 0.70 | -3.31 |
| Max drawdown (3Y) | -24.2% | -83.3% |
| Market cap | $170.4B | – |
| P/E (trailing) | 14.2 | – |
| Dividend yield | 4.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RIO | VXX |
|---|---|---|
| 2022 | +18.5% | -23.8% |
| 2023 | +11.1% | -72.5% |
| 2024 | -15.4% | -26.2% |
| 2025 | +44.5% | -42.2% |
| 2026 | +37.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RIO and VXX good diversifiers for each other?
Yes. With a correlation of -0.40, RIO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RIO and VXX?
As of 2026-08-27, the correlation of weekly returns between RIO and VXX is -0.40 over 3 years, -0.36 over 1 year and -0.33 over 5 years.
Is VXX a good diversifier for RIO?
Yes. With a correlation of -0.40, RIO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
A reading of -0.40 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/rio-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rio-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RIO correlations · VXX correlations
