SHOE vs VXX: Correlation
How closely do Shoe Station Group, Inc. (SHOE) 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 -0.41, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SHOE and VXX?
Across a 3-year window, the weekly returns of SHOE and VXX correlate at -0.41, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. Stretching to 5 years gives -0.36, with an annualized covariance of -1089.9 %².
Among the 17 assets we track against SHOE, VXX sits near the bottom by co-movement, at rank #17. The last year tells two different stories: SHOE led by 15.0 percentage points, -34.7% for SHOE 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.
SHOE vs VXX: side by side
| SHOE (Shoe Station Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -34.7% | -49.7% |
| 5-year return | -59.3% | -95.6% |
| Volatility (ann.) | 43.2% | 60.9% |
| Beta vs S&P 500 | 1.24 | -3.31 |
| Max drawdown (3Y) | -68.0% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.3 | – |
| Dividend yield | 4.30% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SHOE | VXX |
|---|---|---|
| 2022 | -38.0% | -23.8% |
| 2023 | +28.5% | -72.5% |
| 2024 | +11.2% | -26.2% |
| 2025 | -47.6% | -42.2% |
| 2026 | -15.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SHOE and VXX good diversifiers for each other?
Yes. With a correlation of -0.41, SHOE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SHOE and VXX?
The SHOE/VXX correlation stands at -0.41 on a 3-year window (1 year: -0.38, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SHOE?
Yes. With a correlation of -0.41, SHOE and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 mean?
A reading of -0.41 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/shoe-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/shoe-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SHOE correlations · VXX correlations
