RNGR vs VXX: Correlation
Measured on weekly returns over the past three years, Ranger Energy Services, Inc. (RNGR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RNGR and VXX?
On 3 years of weekly data the RNGR/VXX correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.17, and annualized covariance runs at -501.0 %².
VXX is close to the least connected end of RNGR's tracked universe, ranking #12 of 13. The last year tells two different stories: RNGR led by 68.7 percentage points, +19.0% for RNGR against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.6 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.
RNGR vs VXX: side by side
| RNGR (Ranger Energy Services, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.0% | -49.7% |
| 5-year return | +129.0% | -95.6% |
| Volatility (ann.) | 37.1% | 60.9% |
| Beta vs S&P 500 | 0.49 | -3.31 |
| Max drawdown (3Y) | -40.5% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 26.4 | – |
| Dividend yield | 1.52% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RNGR | VXX |
|---|---|---|
| 2022 | +7.2% | -23.8% |
| 2023 | -6.3% | -72.5% |
| 2024 | +53.9% | -26.2% |
| 2025 | -7.9% | -42.2% |
| 2026 | +18.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RNGR and VXX good diversifiers for each other?
Yes. With a correlation of -0.22, RNGR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RNGR and VXX?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.22 over the last year and -0.17 over 5 years.
Is VXX a good diversifier for RNGR?
Yes. With a correlation of -0.22, RNGR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/rngr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rngr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RNGR correlations · VXX correlations
