SKY vs VXX: Correlation
How closely do Champion Homes, Inc. (SKY) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKY and VXX?
Over the past 3 years, SKY and VXX moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.35 over 3. Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -963.0 %².
Out of 11 assets tracked against SKY, VXX lands near the bottom at #10. The last year tells two different stories: SKY led by 70.2 percentage points, +20.5% for SKY 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.
SKY vs VXX: side by side
| SKY (Champion Homes, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +20.5% | -49.7% |
| 5-year return | +41.8% | -95.6% |
| Volatility (ann.) | 45.3% | 60.9% |
| Beta vs S&P 500 | 1.01 | -3.31 |
| Max drawdown (3Y) | -44.6% | -83.3% |
| Market cap | $4.9B | – |
| P/E (trailing) | 26.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SKY | VXX |
|---|---|---|
| 2022 | -34.8% | -23.8% |
| 2023 | +44.2% | -72.5% |
| 2024 | +18.6% | -26.2% |
| 2025 | -4.1% | -42.2% |
| 2026 | +6.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKY and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SKY and VXX?
As of 2026-08-27, the correlation of weekly returns between SKY and VXX is -0.35 over 3 years, -0.27 over 1 year and -0.35 over 5 years.
Is VXX a good diversifier for SKY?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 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/sky-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sky-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SKY correlations · VXX correlations
