UA vs VXX: Correlation
How closely do Under Armour, Inc. (UA) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UA and VXX?
On 3 years of weekly data the UA/VXX correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. The 5-year figure is -0.36, and annualized covariance runs at -992.3 %².
Among the 12 assets we track against UA, VXX sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months UA outperformed by 49.9 percentage points (+0.2% for UA 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.
UA vs VXX: side by side
| UA (Under Armour, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.2% | -49.7% |
| 5-year return | -76.2% | -95.6% |
| Volatility (ann.) | 46.7% | 60.9% |
| Beta vs S&P 500 | 0.99 | -3.31 |
| Max drawdown (3Y) | -60.2% | -83.3% |
| Market cap | $2.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UA | VXX |
|---|---|---|
| 2022 | -50.6% | -23.8% |
| 2023 | -6.4% | -72.5% |
| 2024 | -10.7% | -26.2% |
| 2025 | -35.7% | -42.2% |
| 2026 | +3.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UA and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between UA and VXX?
As of 2026-08-27, the correlation of weekly returns between UA and VXX is -0.35 over 3 years, -0.32 over 1 year and -0.36 over 5 years.
Is VXX a good diversifier for UA?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/ua-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ua-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: UA correlations · VXX correlations
