ROCK vs VXX: Correlation
How closely do Gibraltar Industries, Inc. (ROCK) 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 -0.43, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ROCK and VXX?
On 3 years of weekly data the ROCK/VXX correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.30 versus -0.43 over 3 years. The 5-year figure is -0.39, and annualized covariance runs at -1034.4 %².
Among the 15 assets we track against ROCK, VXX sits near the bottom by co-movement, at rank #14. The last year tells two different stories: ROCK led by 20.7 percentage points, -29.0% for ROCK 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.
ROCK vs VXX: side by side
| ROCK (Gibraltar Industries, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -29.0% | -49.7% |
| 5-year return | -39.2% | -95.6% |
| Volatility (ann.) | 39.2% | 60.9% |
| Beta vs S&P 500 | 1.19 | -3.31 |
| Max drawdown (3Y) | -61.2% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | 22.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ROCK | VXX |
|---|---|---|
| 2022 | -31.2% | -23.8% |
| 2023 | +72.1% | -72.5% |
| 2024 | -25.4% | -26.2% |
| 2025 | -16.1% | -42.2% |
| 2026 | -7.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ROCK and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between ROCK and VXX?
As of 2026-08-27, the correlation of weekly returns between ROCK and VXX is -0.43 over 3 years, -0.30 over 1 year and -0.39 over 5 years.
Is VXX a good diversifier for ROCK?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rock-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rock-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ROCK correlations · VXX correlations
