UAVS vs VXX: Correlation
How closely do AgEagle Aerial Systems, Inc. (UAVS) 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 -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UAVS and VXX?
Over the past 3 years, UAVS and VXX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -1998.1 %².
Among the 14 assets we track against UAVS, VXX sits near the bottom by co-movement, at rank #14. On 12-month performance UAVS holds a 7.4-point edge, -42.3% against -49.7%. Risk is not evenly split, since UAVS 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.
UAVS vs VXX: side by side
| UAVS (AgEagle Aerial Systems, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -42.3% | -49.7% |
| 5-year return | -100.0% | -95.6% |
| Volatility (ann.) | 145.0% | 60.9% |
| Beta vs S&P 500 | 2.34 | -3.31 |
| Max drawdown (3Y) | -99.7% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UAVS | VXX |
|---|---|---|
| 2022 | -77.7% | -23.8% |
| 2023 | -71.4% | -72.5% |
| 2024 | -96.5% | -26.2% |
| 2025 | -76.7% | -42.2% |
| 2026 | +38.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UAVS and VXX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between UAVS and VXX?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.25 over the last year and -0.25 over 5 years.
Is VXX a good diversifier for UAVS?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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/uavs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/uavs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: UAVS correlations · VXX correlations
