TLK vs VXX: Correlation
Measured on weekly returns over the past three years, PT Telekomunikasi Indonesia, Tbk (TLK) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TLK and VXX?
On 3 years of weekly data the TLK/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.38) sits close to the 3-year figure. The 5-year figure is -0.28, and annualized covariance runs at -635.8 %².
Out of 10 assets tracked against TLK, VXX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months TLK outperformed by 30.4 percentage points (-19.3% for TLK against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.2 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.
TLK vs VXX: side by side
| TLK (PT Telekomunikasi Indonesia, Tbk) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -19.3% | -49.7% |
| 5-year return | -18.1% | -95.6% |
| Volatility (ann.) | 27.9% | 60.9% |
| Beta vs S&P 500 | 0.66 | -3.31 |
| Max drawdown (3Y) | -47.6% | -83.3% |
| Market cap | $14.3B | – |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TLK | VXX |
|---|---|---|
| 2022 | -14.6% | -23.8% |
| 2023 | +12.6% | -72.5% |
| 2024 | -32.3% | -26.2% |
| 2025 | +37.8% | -42.2% |
| 2026 | -25.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TLK and VXX good diversifiers for each other?
Yes. With a correlation of -0.37, TLK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TLK and VXX?
The TLK/VXX correlation stands at -0.37 on a 3-year window (1 year: -0.38, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for TLK?
Yes. With a correlation of -0.37, TLK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/tlk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tlk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TLK correlations · VXX correlations
