TDW vs VXX: Correlation
Measured on weekly returns over the past three years, Tidewater Inc. (TDW) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TDW and VXX?
Over the past 3 years, TDW and VXX moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.30). Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -846.9 %².
Among the 12 assets we track against TDW, VXX sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with TDW ahead by 102.9 points (+53.2% versus -49.7%).
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.
TDW vs VXX: side by side
| TDW (Tidewater Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +53.2% | -49.7% |
| 5-year return | +724.8% | -95.6% |
| Volatility (ann.) | 46.4% | 60.9% |
| Beta vs S&P 500 | 0.92 | -3.31 |
| Max drawdown (3Y) | -70.3% | -83.3% |
| Market cap | $4.6B | – |
| P/E (trailing) | 18.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TDW | VXX |
|---|---|---|
| 2022 | +244.1% | -23.8% |
| 2023 | +95.7% | -72.5% |
| 2024 | -24.1% | -26.2% |
| 2025 | -7.7% | -42.2% |
| 2026 | +84.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TDW and VXX good diversifiers for each other?
Yes. With a correlation of -0.30, TDW and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TDW and VXX?
The TDW/VXX correlation stands at -0.30 on a 3-year window (1 year: 0.01, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for TDW?
Yes. With a correlation of -0.30, TDW and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/tdw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tdw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TDW correlations · VXX correlations
