TEX vs VXX: Correlation
How closely do Terex Corporation (TEX) 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 -0.50, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEX and VXX?
Over the past 3 years, TEX and VXX moved with a correlation of -0.50, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.34) runs above the 3-year figure (-0.50). Over 5 years the correlation is -0.49, and the annualized covariance of weekly returns is -1260.2 %².
Among the 23 assets we track against TEX, VXX sits near the bottom by co-movement, at rank #22. Correlation aside, the last 12 months split them widely, with TEX ahead by 73.9 points (+24.2% 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.
TEX vs VXX: side by side
| TEX (Terex Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.2% | -49.7% |
| 5-year return | +31.7% | -95.6% |
| Volatility (ann.) | 41.0% | 60.9% |
| Beta vs S&P 500 | 1.38 | -3.31 |
| Max drawdown (3Y) | -51.3% | -83.3% |
| Market cap | $7.4B | – |
| P/E (trailing) | 31.2 | – |
| Dividend yield | 1.04% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TEX | VXX |
|---|---|---|
| 2022 | -1.4% | -23.8% |
| 2023 | +36.1% | -72.5% |
| 2024 | -18.6% | -26.2% |
| 2025 | +17.3% | -42.2% |
| 2026 | +21.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEX and VXX good diversifiers for each other?
Yes. With a correlation of -0.50, TEX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TEX and VXX?
As of 2026-08-27, the correlation of weekly returns between TEX and VXX is -0.50 over 3 years, -0.34 over 1 year and -0.49 over 5 years.
Is VXX a good diversifier for TEX?
Yes. With a correlation of -0.50, TEX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.50 mean?
A reading of -0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tex-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tex-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TEX correlations · VXX correlations
