TRIN vs VXX: Correlation
Measured on weekly returns over the past three years, Trinity Capital Inc. (TRIN) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TRIN and VXX?
On 3 years of weekly data the TRIN/VXX correlation comes out at -0.50, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.38 versus -0.50 over 3 years. The 5-year figure is -0.37, and annualized covariance runs at -561.6 %².
VXX is close to the least connected end of TRIN's tracked universe, ranking #15 of 15. Correlation aside, the last 12 months split them widely, with TRIN ahead by 85.3 points (+35.6% versus -49.7%). Note the risk asymmetry: VXX runs 3.3 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.
TRIN vs VXX: side by side
| TRIN (Trinity Capital Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.6% | -49.7% |
| 5-year return | +139.8% | -95.6% |
| Volatility (ann.) | 18.5% | 60.9% |
| Beta vs S&P 500 | 0.56 | -3.31 |
| Max drawdown (3Y) | -15.6% | -83.3% |
| Market cap | $1.7B | – |
| P/E (trailing) | 10.7 | – |
| Dividend yield | 10.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TRIN | VXX |
|---|---|---|
| 2022 | -26.6% | -23.8% |
| 2023 | +54.0% | -72.5% |
| 2024 | +14.8% | -26.2% |
| 2025 | +16.0% | -42.2% |
| 2026 | +38.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TRIN and VXX good diversifiers for each other?
Yes. With a correlation of -0.50, TRIN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TRIN and VXX?
As of 2026-08-27, the correlation of weekly returns between TRIN and VXX is -0.50 over 3 years, -0.38 over 1 year and -0.37 over 5 years.
Is VXX a good diversifier for TRIN?
Yes. With a correlation of -0.50, TRIN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.50 mean?
A reading of -0.50 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/trin-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/trin-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TRIN correlations · VXX correlations
