SPGI vs VXX: Correlation
S&P Global (SPGI) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPGI and VXX?
Over the past 3 years, SPGI and VXX moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.41). Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -612.4 %².
Among the 40 assets we track against SPGI, VXX sits near the bottom by co-movement, at rank #38. The last year tells two different stories: SPGI led by 34.1 percentage points, -15.6% for SPGI against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.5 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.
SPGI vs VXX: side by side
| SPGI (S&P Global) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -15.6% | -49.7% |
| 5-year return | +8.1% | -95.6% |
| Volatility (ann.) | 24.7% | 60.9% |
| Beta vs S&P 500 | 0.86 | -3.31 |
| Max drawdown (3Y) | -30.5% | -83.3% |
| Market cap | $128.4B | – |
| P/E (trailing) | 26.6 | – |
| Dividend yield | 0.88% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | SPGI | VXX |
|---|---|---|
| 2022 | -28.4% | -23.8% |
| 2023 | +32.8% | -72.5% |
| 2024 | +13.9% | -26.2% |
| 2025 | +5.7% | -42.2% |
| 2026 | -11.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPGI and VXX good diversifiers for each other?
Yes. With a correlation of -0.41, SPGI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SPGI and VXX?
As of 2026-08-27, the correlation of weekly returns between SPGI and VXX is -0.41 over 3 years, -0.14 over 1 year and -0.40 over 5 years.
Is VXX a good diversifier for SPGI?
Yes. With a correlation of -0.41, SPGI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.41 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/spgi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spgi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPGI correlations · VXX correlations
