SPCE vs VXX: Correlation
Virgin Galactic Holdings, Inc. (SPCE) 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 -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPCE and VXX?
On 3 years of weekly data the SPCE/VXX correlation comes out at -0.39, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.33) sits close to the 3-year figure. The 5-year figure is -0.39, and annualized covariance runs at -2400.3 %².
VXX is close to the least connected end of SPCE's tracked universe, ranking #19 of 19. Their recent paths diverged sharply: over the last 12 months SPCE outperformed by 46.8 percentage points (-2.9% for SPCE against -49.7% for VXX). One caveat on sizing: SPCE is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
SPCE vs VXX: side by side
| SPCE (Virgin Galactic Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.9% | -49.7% |
| 5-year return | -99.4% | -95.6% |
| Volatility (ann.) | 100.5% | 60.9% |
| Beta vs S&P 500 | 2.82 | -3.31 |
| Max drawdown (3Y) | -96.0% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPCE | VXX |
|---|---|---|
| 2022 | -74.0% | -23.8% |
| 2023 | -29.6% | -72.5% |
| 2024 | -88.0% | -26.2% |
| 2025 | -45.4% | -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 SPCE and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
FAQ
What is the correlation between SPCE and VXX?
As of 2026-08-27, the correlation of weekly returns between SPCE and VXX is -0.39 over 3 years, -0.33 over 1 year and -0.39 over 5 years.
Is VXX a good diversifier for SPCE?
By historical standards, yes. A correlation of -0.39 means the two rarely move for the same reasons.
What does a correlation of -0.39 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/spce-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spce-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPCE correlations · VXX correlations
