SLB vs VXX: Correlation
Measured on weekly returns over the past three years, Schlumberger (SLB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLB and VXX?
On 3 years of weekly data the SLB/VXX correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.31). The 5-year figure is -0.30, and annualized covariance runs at -663.9 %².
VXX is close to the least connected end of SLB's tracked universe, ranking #35 of 35. Correlation aside, the last 12 months split them widely, with SLB ahead by 106.8 points (+57.1% versus -49.7%). Risk is not evenly split, since VXX carries 1.7 times the volatility of the other side.
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.
SLB vs VXX: side by side
| SLB (Schlumberger) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.1% | -49.7% |
| 5-year return | +117.1% | -95.6% |
| Volatility (ann.) | 35.1% | 60.9% |
| Beta vs S&P 500 | 0.57 | -3.31 |
| Max drawdown (3Y) | -46.6% | -83.3% |
| Market cap | $81.6B | – |
| P/E (trailing) | 26.2 | – |
| Dividend yield | 2.16% | 0.00% |
| Sector / category | Energy | US Listed |
Year-by-year returns
| Year | SLB | VXX |
|---|---|---|
| 2022 | +81.2% | -23.8% |
| 2023 | -0.8% | -72.5% |
| 2024 | -24.5% | -26.2% |
| 2025 | +3.3% | -42.2% |
| 2026 | +44.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLB and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between SLB and VXX?
The SLB/VXX correlation stands at -0.31 on a 3-year window (1 year: -0.08, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for SLB?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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/slb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/slb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SLB correlations · VXX correlations
