SRV vs VXX: Correlation
How closely do NXG Cushing Midstream Energy Fund (SRV) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SRV and VXX?
On 3 years of weekly data the SRV/VXX correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.06) runs above the 3-year figure (-0.28). The 5-year figure is -0.29, and annualized covariance runs at -428.6 %².
VXX is close to the least connected end of SRV's tracked universe, ranking #12 of 12. Their recent paths diverged sharply: over the last 12 months SRV outperformed by 75.5 percentage points (+25.8% for SRV against -49.7% for VXX). One caveat on sizing: VXX is 2.4 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.
SRV vs VXX: side by side
| SRV (NXG Cushing Midstream Energy Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.8% | -49.7% |
| 5-year return | +220.3% | -95.6% |
| Volatility (ann.) | 25.1% | 60.9% |
| Beta vs S&P 500 | 0.46 | -3.31 |
| Max drawdown (3Y) | -26.3% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 3.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SRV | VXX |
|---|---|---|
| 2022 | +20.1% | -23.8% |
| 2023 | +16.8% | -72.5% |
| 2024 | +50.7% | -26.2% |
| 2025 | +5.0% | -42.2% |
| 2026 | +26.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SRV and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between SRV and VXX?
As of 2026-08-27, the correlation of weekly returns between SRV and VXX is -0.28 over 3 years, 0.06 over 1 year and -0.29 over 5 years.
Is VXX a good diversifier for SRV?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/srv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/srv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SRV correlations · VXX correlations
