VAL vs VXX: Correlation
Measured on weekly returns over the past three years, Valaris Limited (VAL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VAL and VXX?
Across a 3-year window, the weekly returns of VAL and VXX correlate at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.02) than the 3-year average (-0.27). Stretching to 5 years gives -0.27, with an annualized covariance of -880.8 %².
VXX is close to the least connected end of VAL's tracked universe, ranking #21 of 22. Correlation aside, the last 12 months split them widely, with VAL ahead by 123.0 points (+73.3% versus -49.7%).
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.
VAL vs VXX: side by side
| VAL (Valaris Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +73.3% | -49.7% |
| 5-year return | +200.2% | -95.6% |
| Volatility (ann.) | 52.9% | 60.9% |
| Beta vs S&P 500 | 0.77 | -3.31 |
| Max drawdown (3Y) | -63.8% | -83.3% |
| Market cap | $5.9B | – |
| P/E (trailing) | 6.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VAL | VXX |
|---|---|---|
| 2022 | +87.8% | -23.8% |
| 2023 | +1.4% | -72.5% |
| 2024 | -35.5% | -26.2% |
| 2025 | +13.9% | -42.2% |
| 2026 | +69.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VAL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between VAL and VXX?
As of 2026-08-27, the correlation of weekly returns between VAL and VXX is -0.27 over 3 years, 0.02 over 1 year and -0.27 over 5 years.
Is VXX a good diversifier for VAL?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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/val-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/val-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VAL correlations · VXX correlations
