SRFM vs VXX: Correlation
How closely do Surf Air Mobility Inc. (SRFM) 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 -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SRFM and VXX?
On 3 years of weekly data the SRFM/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -2615.3 %².
VXX is close to the least connected end of SRFM's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months VXX outperformed by 34.2 percentage points (-83.9% for SRFM against -49.7% for VXX). Risk is not evenly split, since SRFM 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.
SRFM vs VXX: side by side
| SRFM (Surf Air Mobility Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -83.9% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 150.4% | 60.9% |
| Beta vs S&P 500 | 3.45 | -3.31 |
| Max drawdown (3Y) | -96.2% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SRFM | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | -50.3% | -26.2% |
| 2025 | -64.0% | -42.2% |
| 2026 | -62.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SRFM and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SRFM and VXX?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.29 over the last year and n/a over 5 years.
Is VXX a good diversifier for SRFM?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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/srfm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/srfm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SRFM correlations · VXX correlations
