TGT vs VXX: Correlation
Target Corporation (TGT) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TGT and VXX?
Over the past 3 years, TGT and VXX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.25 over 3 years. Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -481.5 %².
VXX is close to the least connected end of TGT's tracked universe, ranking #33 of 35. Their recent paths diverged sharply: over the last 12 months TGT outperformed by 125.9 percentage points (+76.2% for TGT against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.9 times the volatility of the other side.
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.
TGT vs VXX: side by side
| TGT (Target Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +76.2% | -49.7% |
| 5-year return | -22.2% | -95.6% |
| Volatility (ann.) | 32.0% | 60.9% |
| Beta vs S&P 500 | 0.62 | -3.31 |
| Max drawdown (3Y) | -49.8% | -83.3% |
| Market cap | $75.4B | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 2.78% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | TGT | VXX |
|---|---|---|
| 2022 | -34.2% | -23.8% |
| 2023 | -1.4% | -72.5% |
| 2024 | -2.3% | -26.2% |
| 2025 | -24.5% | -42.2% |
| 2026 | +74.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TGT and VXX good diversifiers for each other?
Yes. With a correlation of -0.25, TGT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TGT and VXX?
As of 2026-08-27, the correlation of weekly returns between TGT and VXX is -0.25 over 3 years, -0.02 over 1 year and -0.20 over 5 years.
Is VXX a good diversifier for TGT?
Yes. With a correlation of -0.25, TGT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 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/tgt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tgt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TGT correlations · VXX correlations
