UPS vs VXX: Correlation
Measured on weekly returns over the past three years, United Parcel Service (UPS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UPS and VXX?
Over the past 3 years, UPS and VXX moved with a correlation of -0.36, which is 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. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -642.6 %².
VXX is close to the least connected end of UPS's tracked universe, ranking #33 of 34. The last year tells two different stories: UPS led by 77.9 percentage points, +28.2% for UPS against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.1 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.
UPS vs VXX: side by side
| UPS (United Parcel Service) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.2% | -49.7% |
| 5-year return | -31.0% | -95.6% |
| Volatility (ann.) | 29.4% | 60.9% |
| Beta vs S&P 500 | 0.81 | -3.31 |
| Max drawdown (3Y) | -46.5% | -83.3% |
| Market cap | $89.9B | – |
| P/E (trailing) | 19.6 | – |
| Dividend yield | 6.21% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | UPS | VXX |
|---|---|---|
| 2022 | -16.2% | -23.8% |
| 2023 | -6.0% | -72.5% |
| 2024 | -15.9% | -26.2% |
| 2025 | -15.9% | -42.2% |
| 2026 | +11.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UPS and VXX good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between UPS and VXX?
As of 2026-08-27, the correlation of weekly returns between UPS and VXX is -0.36 over 3 years, -0.32 over 1 year and -0.38 over 5 years.
Is VXX a good diversifier for UPS?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
A reading of -0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ups-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ups-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: UPS correlations · VXX correlations
