TXT vs VXX: Correlation
Measured on weekly returns over the past three years, Textron (TXT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TXT and VXX?
Over the past 3 years, TXT and VXX moved with a correlation of -0.45, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.24) runs above the 3-year figure (-0.45). Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -696.4 %².
Among the 39 assets we track against TXT, VXX sits near the bottom by co-movement, at rank #39. Correlation aside, the last 12 months split them widely, with TXT ahead by 50.4 points (+0.7% versus -49.7%). Risk is not evenly split, since VXX carries 2.4 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.
TXT vs VXX: side by side
| TXT (Textron) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.7% | -49.7% |
| 5-year return | +15.1% | -95.6% |
| Volatility (ann.) | 25.4% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -37.3% | -83.3% |
| Market cap | $14.2B | – |
| P/E (trailing) | 15.7 | – |
| Dividend yield | 0.10% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | TXT | VXX |
|---|---|---|
| 2022 | -8.2% | -23.8% |
| 2023 | +13.7% | -72.5% |
| 2024 | -4.8% | -26.2% |
| 2025 | +14.1% | -42.2% |
| 2026 | -5.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TXT and VXX good diversifiers for each other?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TXT and VXX?
Using weekly returns as of 2026-08-27: -0.45 over 3 years, with -0.24 over the last year and -0.44 over 5 years.
Is VXX a good diversifier for TXT?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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/txt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/txt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TXT correlations · VXX correlations
