TPC vs VXX: Correlation
Measured on weekly returns over the past three years, Tutor Perini Corporation (TPC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TPC and VXX?
On 3 years of weekly data the TPC/VXX correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.19 versus -0.44 over 3 years. The 5-year figure is -0.42, and annualized covariance runs at -1654.3 %².
VXX is close to the least connected end of TPC's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months TPC outperformed by 106.6 percentage points (+56.9% for TPC 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.
TPC vs VXX: side by side
| TPC (Tutor Perini Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +56.9% | -49.7% |
| 5-year return | +541.7% | -95.6% |
| Volatility (ann.) | 62.0% | 60.9% |
| Beta vs S&P 500 | 1.63 | -3.31 |
| Max drawdown (3Y) | -40.9% | -83.3% |
| Market cap | $4.8B | – |
| P/E (trailing) | 39.6 | – |
| Dividend yield | 0.20% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TPC | VXX |
|---|---|---|
| 2022 | -39.0% | -23.8% |
| 2023 | +20.5% | -72.5% |
| 2024 | +165.9% | -26.2% |
| 2025 | +177.2% | -42.2% |
| 2026 | +37.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TPC and VXX good diversifiers for each other?
Yes. With a correlation of -0.44, TPC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TPC and VXX?
The TPC/VXX correlation stands at -0.44 on a 3-year window (1 year: -0.19, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for TPC?
Yes. With a correlation of -0.44, TPC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
A reading of -0.44 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/tpc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tpc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TPC correlations · VXX correlations
