THW vs VXX: Correlation
Measured on weekly returns over the past three years, abrdn World Healthcare Fund Shares of Beneficial Interest (THW) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THW and VXX?
Across a 3-year window, the weekly returns of THW and VXX correlate at -0.45, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.52 lands near the 3-year figure. Stretching to 5 years gives -0.45, with an annualized covariance of -586.3 %².
VXX is close to the least connected end of THW's tracked universe, ranking #24 of 25. The last year tells two different stories: THW led by 83.4 percentage points, +33.7% for THW 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.
THW vs VXX: side by side
| THW (abrdn World Healthcare Fund Shares of Beneficial Interest) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.7% | -49.7% |
| 5-year return | +40.2% | -95.6% |
| Volatility (ann.) | 21.4% | 60.9% |
| Beta vs S&P 500 | 0.75 | -3.31 |
| Max drawdown (3Y) | -25.4% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | 6.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THW | VXX |
|---|---|---|
| 2022 | -1.2% | -23.8% |
| 2023 | -11.5% | -72.5% |
| 2024 | +5.4% | -26.2% |
| 2025 | +31.1% | -42.2% |
| 2026 | +18.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THW and VXX good diversifiers for each other?
Yes. With a correlation of -0.45, THW and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between THW and VXX?
As of 2026-08-27, the correlation of weekly returns between THW and VXX is -0.45 over 3 years, -0.52 over 1 year and -0.45 over 5 years.
Is VXX a good diversifier for THW?
Yes. With a correlation of -0.45, THW and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 mean?
A reading of -0.45 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/thw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/thw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: THW correlations · VXX correlations
