TLRY vs VXX: Correlation
Tilray Brands, Inc. (TLRY) 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 -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TLRY and VXX?
On 3 years of weekly data the TLRY/VXX correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.22). The 5-year figure is -0.22, and annualized covariance runs at -1182.2 %².
Among the 15 assets we track against TLRY, VXX sits near the bottom by co-movement, at rank #15. The last year tells two different stories: VXX led by 16.9 percentage points, -66.6% for TLRY against -49.7% for VXX.
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.
TLRY vs VXX: side by side
| TLRY (Tilray Brands, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -66.6% | -49.7% |
| 5-year return | -96.5% | -95.6% |
| Volatility (ann.) | 86.6% | 60.9% |
| Beta vs S&P 500 | 1.37 | -3.31 |
| Max drawdown (3Y) | -89.1% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TLRY | VXX |
|---|---|---|
| 2022 | -61.7% | -23.8% |
| 2023 | -14.5% | -72.5% |
| 2024 | -42.2% | -26.2% |
| 2025 | -32.1% | -42.2% |
| 2026 | -49.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TLRY and VXX good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TLRY and VXX?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.09 over the last year and -0.22 over 5 years.
Is VXX a good diversifier for TLRY?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 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/tlry-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tlry-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TLRY correlations · VXX correlations
