TLS vs VXX: Correlation
Telos Corporation (TLS) 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 -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TLS and VXX?
Across a 3-year window, the weekly returns of TLS and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Stretching to 5 years gives -0.28, with an annualized covariance of -1852.7 %².
Among the 19 assets we track against TLS, VXX sits near the bottom by co-movement, at rank #19. Correlation aside, the last 12 months split them widely, with TLS ahead by 32.4 points (-17.3% versus -49.7%). One caveat on sizing: TLS is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
TLS vs VXX: side by side
| TLS (Telos Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.3% | -49.7% |
| 5-year return | -85.1% | -95.6% |
| Volatility (ann.) | 110.3% | 60.9% |
| Beta vs S&P 500 | 2.54 | -3.31 |
| Max drawdown (3Y) | -58.3% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TLS | VXX |
|---|---|---|
| 2022 | -67.0% | -23.8% |
| 2023 | -28.3% | -72.5% |
| 2024 | -6.3% | -26.2% |
| 2025 | +49.1% | -42.2% |
| 2026 | -5.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TLS and VXX good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TLS and VXX?
As of 2026-08-27, the correlation of weekly returns between TLS and VXX is -0.28 over 3 years, -0.20 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for TLS?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/tls-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tls-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TLS correlations · VXX correlations
