TGB vs VXX: Correlation
Measured on weekly returns over the past three years, Trekor Metals Limited (TGB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.41, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TGB and VXX?
On 3 years of weekly data the TGB/VXX correlation comes out at -0.41, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.45 lands near the 3-year figure. The 5-year figure is -0.36, and annualized covariance runs at -1536.7 %².
Out of 16 assets tracked against TGB, VXX lands near the bottom at #16. Correlation aside, the last 12 months split them widely, with TGB ahead by 254.1 points (+204.4% 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.
TGB vs VXX: side by side
| TGB (Trekor Metals Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +204.4% | -49.7% |
| 5-year return | +450.0% | -95.6% |
| Volatility (ann.) | 62.1% | 60.9% |
| Beta vs S&P 500 | 1.89 | -3.31 |
| Max drawdown (3Y) | -44.3% | -83.3% |
| Market cap | $3.5B | – |
| P/E (trailing) | 484.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TGB | VXX |
|---|---|---|
| 2022 | -28.3% | -23.8% |
| 2023 | -4.8% | -72.5% |
| 2024 | +38.6% | -26.2% |
| 2025 | +191.8% | -42.2% |
| 2026 | +71.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TGB 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 TGB and VXX?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.45 over the last year and -0.36 over 5 years.
Is VXX a good diversifier for TGB?
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?
A reading of -0.41 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/tgb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tgb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TGB correlations · VXX correlations
