SDRL vs VXX: Correlation
Seadrill Limited (SDRL) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SDRL and VXX?
On 3 years of weekly data the SDRL/VXX correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.11 versus -0.38 over 3 years. The 5-year figure is -0.40, and annualized covariance runs at -897.5 %².
Among the 15 assets we track against SDRL, VXX sits near the bottom by co-movement, at rank #15. Their recent paths diverged sharply: over the last 12 months SDRL outperformed by 101.0 percentage points (+51.3% for SDRL 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.
SDRL vs VXX: side by side
| SDRL (Seadrill Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +51.3% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 38.9% | 60.9% |
| Beta vs S&P 500 | 0.91 | -3.31 |
| Max drawdown (3Y) | -66.1% | -83.3% |
| Market cap | $3.0B | – |
| P/E (trailing) | 1612.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SDRL | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | +44.9% | -72.5% |
| 2024 | -17.7% | -26.2% |
| 2025 | -11.1% | -42.2% |
| 2026 | +39.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SDRL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between SDRL and VXX?
As of 2026-08-27, the correlation of weekly returns between SDRL and VXX is -0.38 over 3 years, -0.11 over 1 year and -0.40 over 5 years.
Is VXX a good diversifier for SDRL?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/sdrl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sdrl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SDRL correlations · VXX correlations
