VCEL vs VXX: Correlation
Measured on weekly returns over the past three years, Vericel Corporation (VCEL) 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 VCEL and VXX?
Across a 3-year window, the weekly returns of VCEL and VXX correlate at -0.36, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.20) runs above the 3-year figure (-0.36). Stretching to 5 years gives -0.35, with an annualized covariance of -931.5 %².
Among the 12 assets we track against VCEL, VXX sits near the bottom by co-movement, at rank #11. The last year tells two different stories: VCEL led by 64.4 percentage points, +14.7% for VCEL against -49.7% for VXX.
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.
VCEL vs VXX: side by side
| VCEL (Vericel Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.7% | -49.7% |
| 5-year return | -26.0% | -95.6% |
| Volatility (ann.) | 41.9% | 60.9% |
| Beta vs S&P 500 | 1.00 | -3.31 |
| Max drawdown (3Y) | -52.5% | -83.3% |
| Market cap | $2.1B | – |
| P/E (trailing) | 87.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VCEL | VXX |
|---|---|---|
| 2022 | -33.0% | -23.8% |
| 2023 | +35.2% | -72.5% |
| 2024 | +54.2% | -26.2% |
| 2025 | -34.4% | -42.2% |
| 2026 | +14.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VCEL 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 VCEL and VXX?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.20 over the last year and -0.35 over 5 years.
Is VXX a good diversifier for VCEL?
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?
On the −1 to +1 scale, -0.36 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/vcel-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vcel-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VCEL correlations · VXX correlations
