TT vs VXX: Correlation
How closely do Trane Technologies (TT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TT and VXX?
Over the past 3 years, TT and VXX moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.31) than the 3-year average (-0.48). Over 5 years the correlation is -0.46, and the annualized covariance of weekly returns is -810.7 %².
Among the 37 assets we track against TT, VXX sits near the bottom by co-movement, at rank #35. Correlation aside, the last 12 months split them widely, with TT ahead by 57.5 points (+7.8% versus -49.7%). Risk is not evenly split, since VXX carries 2.2 times the volatility of the other side.
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.
TT vs VXX: side by side
| TT (Trane Technologies) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.8% | -49.7% |
| 5-year return | +141.4% | -95.6% |
| Volatility (ann.) | 27.8% | 60.9% |
| Beta vs S&P 500 | 1.19 | -3.31 |
| Max drawdown (3Y) | -24.4% | -83.3% |
| Market cap | $100.0B | – |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | TT | VXX |
|---|---|---|
| 2022 | -15.3% | -23.8% |
| 2023 | +47.4% | -72.5% |
| 2024 | +53.0% | -26.2% |
| 2025 | +6.1% | -42.2% |
| 2026 | +17.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between TT and VXX?
The TT/VXX correlation stands at -0.48 on a 3-year window (1 year: -0.31, 5 years: -0.46), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for TT?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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/tt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TT correlations · VXX correlations
