SAIA vs VXX: Correlation
How closely do Saia, Inc. (SAIA) 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 -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SAIA and VXX?
Over the past 3 years, SAIA and VXX moved with a correlation of -0.24, which is 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. Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -730.9 %².
Among the 12 assets we track against SAIA, VXX sits near the bottom by co-movement, at rank #11. The last year tells two different stories: SAIA led by 66.3 percentage points, +16.6% for SAIA against -49.7% for VXX.
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.
SAIA vs VXX: side by side
| SAIA (Saia, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.6% | -49.7% |
| 5-year return | +44.1% | -95.6% |
| Volatility (ann.) | 50.1% | 60.9% |
| Beta vs S&P 500 | 1.25 | -3.31 |
| Max drawdown (3Y) | -60.9% | -83.3% |
| Market cap | $9.4B | – |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SAIA | VXX |
|---|---|---|
| 2022 | -37.8% | -23.8% |
| 2023 | +109.0% | -72.5% |
| 2024 | +4.0% | -26.2% |
| 2025 | -28.4% | -42.2% |
| 2026 | +8.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SAIA and VXX good diversifiers for each other?
Yes. With a correlation of -0.24, SAIA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SAIA and VXX?
The SAIA/VXX correlation stands at -0.24 on a 3-year window (1 year: -0.22, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SAIA?
Yes. With a correlation of -0.24, SAIA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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/saia-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/saia-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SAIA correlations · VXX correlations
