UBS vs VXX: Correlation
How closely do UBS Group AG Registered (UBS) 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 -0.63, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UBS and VXX?
Across a 3-year window, the weekly returns of UBS and VXX correlate at -0.63, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.67 lands near the 3-year figure. Stretching to 5 years gives -0.56, with an annualized covariance of -1067.4 %².
VXX is close to the least connected end of UBS's tracked universe, ranking #13 of 13. The last year tells two different stories: UBS led by 88.6 percentage points, +38.9% for UBS against -49.7% for VXX. One caveat on sizing: VXX is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
UBS vs VXX: side by side
| UBS (UBS Group AG Registered) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +38.9% | -49.7% |
| 5-year return | +273.9% | -95.6% |
| Volatility (ann.) | 27.9% | 60.9% |
| Beta vs S&P 500 | 1.28 | -3.31 |
| Max drawdown (3Y) | -27.0% | -83.3% |
| Market cap | $166.4B | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 2.02% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UBS | VXX |
|---|---|---|
| 2022 | +7.4% | -23.8% |
| 2023 | +69.9% | -72.5% |
| 2024 | +0.7% | -26.2% |
| 2025 | +57.7% | -42.2% |
| 2026 | +20.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UBS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.63 means the two rarely move for the same reasons.
FAQ
What is the correlation between UBS and VXX?
Using weekly returns as of 2026-08-27: -0.63 over 3 years, with -0.67 over the last year and -0.56 over 5 years.
Is VXX a good diversifier for UBS?
By historical standards, yes. A correlation of -0.63 means the two rarely move for the same reasons.
What does a correlation of -0.63 mean?
On the −1 to +1 scale, -0.63 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/ubs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ubs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: UBS correlations · VXX correlations
