USPH vs VXX: Correlation
Measured on weekly returns over the past three years, U.S. Physical Therapy, Inc. (USPH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are USPH and VXX?
Across a 3-year window, the weekly returns of USPH and VXX correlate at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.17 versus -0.32 over 3 years. Stretching to 5 years gives -0.31, with an annualized covariance of -656.7 %².
VXX is close to the least connected end of USPH's tracked universe, ranking #14 of 15. The last year tells two different stories: USPH led by 45.6 percentage points, -4.1% for USPH against -49.7% for VXX. One caveat on sizing: VXX is 1.8 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.
USPH vs VXX: side by side
| USPH (U.S. Physical Therapy, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -4.1% | -49.7% |
| 5-year return | -25.3% | -95.6% |
| Volatility (ann.) | 33.7% | 60.9% |
| Beta vs S&P 500 | 0.84 | -3.31 |
| Max drawdown (3Y) | -45.4% | -83.3% |
| Market cap | $1.2B | – |
| P/E (trailing) | 465.3 | – |
| Dividend yield | 2.33% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | USPH | VXX |
|---|---|---|
| 2022 | -13.7% | -23.8% |
| 2023 | +17.0% | -72.5% |
| 2024 | -3.0% | -26.2% |
| 2025 | -9.9% | -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 USPH and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between USPH and VXX?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.17 over the last year and -0.31 over 5 years.
Is VXX a good diversifier for USPH?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 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/usph-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/usph-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: USPH correlations · VXX correlations
