TVE vs VXX: Correlation
Tennessee Valley Authority (TVE) 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 -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TVE and VXX?
Across a 3-year window, the weekly returns of TVE and VXX correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.24). Stretching to 5 years gives -0.19, with an annualized covariance of -89.4 %².
Among the 10 assets we track against TVE, VXX sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with TVE ahead by 51.4 points (+1.7% versus -49.7%). Risk is not evenly split, since VXX carries 10.0 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.
TVE vs VXX: side by side
| TVE (Tennessee Valley Authority) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.7% | -49.7% |
| 5-year return | +0.6% | -95.6% |
| Volatility (ann.) | 6.1% | 60.9% |
| Beta vs S&P 500 | 0.08 | -3.31 |
| Max drawdown (3Y) | -5.7% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TVE | VXX |
|---|---|---|
| 2022 | -13.5% | -23.8% |
| 2023 | +7.2% | -72.5% |
| 2024 | +0.1% | -26.2% |
| 2025 | +12.1% | -42.2% |
| 2026 | -2.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TVE and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between TVE and VXX?
As of 2026-08-27, the correlation of weekly returns between TVE and VXX is -0.24 over 3 years, -0.37 over 1 year and -0.19 over 5 years.
Is VXX a good diversifier for TVE?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/tve-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tve-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TVE correlations · VXX correlations
