TDY vs VXX: Correlation
Teledyne Technologies (TDY) 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 TDY and VXX?
Across a 3-year window, the weekly returns of TDY and VXX correlate at -0.41, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.27) runs above the 3-year figure (-0.41). Stretching to 5 years gives -0.41, with an annualized covariance of -551.7 %².
VXX is close to the least connected end of TDY's tracked universe, ranking #34 of 35. The last year tells two different stories: TDY led by 65.4 percentage points, +15.7% for TDY against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
TDY vs VXX: side by side
| TDY (Teledyne Technologies) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.7% | -49.7% |
| 5-year return | +36.5% | -95.6% |
| Volatility (ann.) | 22.0% | 60.9% |
| Beta vs S&P 500 | 0.76 | -3.31 |
| Max drawdown (3Y) | -18.8% | -83.3% |
| Market cap | $29.0B | – |
| P/E (trailing) | 30.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | TDY | VXX |
|---|---|---|
| 2022 | -8.5% | -23.8% |
| 2023 | +11.6% | -72.5% |
| 2024 | +4.0% | -26.2% |
| 2025 | +10.0% | -42.2% |
| 2026 | +22.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TDY and VXX good diversifiers for each other?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TDY and VXX?
The TDY/VXX correlation stands at -0.41 on a 3-year window (1 year: -0.27, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for TDY?
Yes: at -0.41, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.41 mean?
On the −1 to +1 scale, -0.41 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/tdy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tdy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TDY correlations · VXX correlations
