TROX vs VXX: Correlation
Measured on weekly returns over the past three years, Tronox Holdings plc (TROX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TROX and VXX?
Over the past 3 years, TROX and VXX moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.40 over 3 years. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -1704.2 %².
Out of 17 assets tracked against TROX, VXX lands near the bottom at #17. The last year tells two different stories: TROX led by 86.8 percentage points, +37.1% for TROX 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.
TROX vs VXX: side by side
| TROX (Tronox Holdings plc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +37.1% | -49.7% |
| 5-year return | -67.8% | -95.6% |
| Volatility (ann.) | 69.1% | 60.9% |
| Beta vs S&P 500 | 1.88 | -3.31 |
| Max drawdown (3Y) | -84.5% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 3.66% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TROX | VXX |
|---|---|---|
| 2022 | -41.1% | -23.8% |
| 2023 | +7.4% | -72.5% |
| 2024 | -26.4% | -26.2% |
| 2025 | -55.6% | -42.2% |
| 2026 | +34.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TROX and VXX good diversifiers for each other?
Yes. With a correlation of -0.40, TROX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TROX and VXX?
The TROX/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.21, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for TROX?
Yes. With a correlation of -0.40, TROX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/trox-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/trox-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TROX correlations · VXX correlations
