TOL vs VXX: Correlation
Toll Brothers, Inc. (TOL) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TOL and VXX?
Across a 3-year window, the weekly returns of TOL and VXX correlate at -0.40, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Stretching to 5 years gives -0.45, with an annualized covariance of -860.2 %².
VXX is close to the least connected end of TOL's tracked universe, ranking #34 of 35. Correlation aside, the last 12 months split them widely, with TOL ahead by 55.7 points (+6.0% versus -49.7%). One caveat on sizing: VXX is 1.7 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.
TOL vs VXX: side by side
| TOL (Toll Brothers, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.0% | -49.7% |
| 5-year return | +139.9% | -95.6% |
| Volatility (ann.) | 34.9% | 60.9% |
| Beta vs S&P 500 | 1.14 | -3.31 |
| Max drawdown (3Y) | -46.0% | -83.3% |
| Market cap | $13.4B | – |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 0.69% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TOL | VXX |
|---|---|---|
| 2022 | -30.0% | -23.8% |
| 2023 | +108.6% | -72.5% |
| 2024 | +23.4% | -26.2% |
| 2025 | +8.3% | -42.2% |
| 2026 | +7.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TOL and VXX good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TOL and VXX?
The TOL/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.31, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for TOL?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/tol-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tol-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TOL correlations · VXX correlations
