SCHW vs VXX: Correlation
How closely do Charles Schwab Corporation (SCHW) 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 -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCHW and VXX?
Across a 3-year window, the weekly returns of SCHW and VXX correlate at -0.48, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.33 versus -0.48 over 3 years. Stretching to 5 years gives -0.45, with an annualized covariance of -817.0 %².
Among the 27 assets we track against SCHW, VXX sits near the bottom by co-movement, at rank #27. Their recent paths diverged sharply: over the last 12 months SCHW outperformed by 62.7 percentage points (+13.0% for SCHW against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.2 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.
SCHW vs VXX: side by side
| SCHW (Charles Schwab Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.0% | -49.7% |
| 5-year return | +57.3% | -95.6% |
| Volatility (ann.) | 27.8% | 60.9% |
| Beta vs S&P 500 | 0.93 | -3.31 |
| Max drawdown (3Y) | -21.4% | -83.3% |
| Market cap | $186.9B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.08% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | SCHW | VXX |
|---|---|---|
| 2022 | +0.1% | -23.8% |
| 2023 | -16.0% | -72.5% |
| 2024 | +9.2% | -26.2% |
| 2025 | +36.6% | -42.2% |
| 2026 | +9.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCHW and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between SCHW and VXX?
The SCHW/VXX correlation stands at -0.48 on a 3-year window (1 year: -0.33, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SCHW?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 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/schw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/schw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SCHW correlations · VXX correlations
