RSP vs VXX: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and VXX?
Across a 3-year window, the weekly returns of RSP and VXX correlate at -0.74, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.68) sits close to the 3-year figure. Stretching to 5 years gives -0.66, with an annualized covariance of -595.3 %².
Among the 250 assets we track against RSP, VXX sits near the bottom by co-movement, at rank #249. The last year tells two different stories: RSP led by 68.9 percentage points, +19.2% for RSP against -49.7% for VXX. Note the risk asymmetry: VXX runs 4.6 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.
RSP vs VXX: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.2% | -49.7% |
| 5-year return | +53.9% | -95.6% |
| Volatility (ann.) | 13.2% | 60.9% |
| Beta vs S&P 500 | 0.77 | -3.31 |
| Max drawdown (3Y) | -17.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.49% | 0.00% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
RSP, Invesco's Large Blend fund, carries $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | RSP | VXX |
|---|---|---|
| 2022 | -11.6% | -23.8% |
| 2023 | +13.7% | -72.5% |
| 2024 | +12.8% | -26.2% |
| 2025 | +11.2% | -42.2% |
| 2026 | +16.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and VXX good diversifiers for each other?
Yes. With a correlation of -0.74, RSP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RSP and VXX?
The RSP/VXX correlation stands at -0.74 on a 3-year window (1 year: -0.68, 5 years: -0.66), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for RSP?
Yes. With a correlation of -0.74, RSP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.74 mean?
A reading of -0.74 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/rsp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rsp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RSP correlations · VXX correlations
