TSEM vs VXX: Correlation
Tower Semiconductor Ltd. (TSEM) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TSEM and VXX?
On 3 years of weekly data the TSEM/VXX correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.25) runs above the 3-year figure (-0.42). The 5-year figure is -0.35, and annualized covariance runs at -1341.9 %².
Out of 14 assets tracked against TSEM, VXX lands near the bottom at #14. The last year tells two different stories: TSEM led by 322.3 percentage points, +272.6% for TSEM 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.
TSEM vs VXX: side by side
| TSEM (Tower Semiconductor Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +272.6% | -49.7% |
| 5-year return | +648.0% | -95.6% |
| Volatility (ann.) | 52.1% | 60.9% |
| Beta vs S&P 500 | 1.55 | -3.31 |
| Max drawdown (3Y) | -45.8% | -83.3% |
| Market cap | $24.8B | – |
| P/E (trailing) | 87.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TSEM | VXX |
|---|---|---|
| 2022 | +8.9% | -23.8% |
| 2023 | -29.4% | -72.5% |
| 2024 | +68.8% | -26.2% |
| 2025 | +128.0% | -42.2% |
| 2026 | +87.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TSEM and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, TSEM and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TSEM and VXX?
As of 2026-08-27, the correlation of weekly returns between TSEM and VXX is -0.42 over 3 years, -0.25 over 1 year and -0.35 over 5 years.
Is VXX a good diversifier for TSEM?
Yes. With a correlation of -0.42, TSEM and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 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/tsem-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tsem-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TSEM correlations · VXX correlations
