VECO vs VXX: Correlation
Veeco Instruments Inc. (VECO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VECO and VXX?
On 3 years of weekly data the VECO/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.37). The 5-year figure is -0.36, and annualized covariance runs at -1104.5 %².
VXX is close to the least connected end of VECO's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with VECO ahead by 145.3 points (+95.6% 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.
VECO vs VXX: side by side
| VECO (Veeco Instruments Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +95.6% | -49.7% |
| 5-year return | +105.2% | -95.6% |
| Volatility (ann.) | 49.1% | 60.9% |
| Beta vs S&P 500 | 1.57 | -3.31 |
| Max drawdown (3Y) | -64.2% | -83.3% |
| Market cap | $2.9B | – |
| P/E (trailing) | 120.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VECO | VXX |
|---|---|---|
| 2022 | -34.7% | -23.8% |
| 2023 | +67.0% | -72.5% |
| 2024 | -13.6% | -26.2% |
| 2025 | +6.6% | -42.2% |
| 2026 | +64.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VECO and VXX good diversifiers for each other?
Yes. With a correlation of -0.37, VECO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VECO and VXX?
The VECO/VXX correlation stands at -0.37 on a 3-year window (1 year: -0.10, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for VECO?
Yes. With a correlation of -0.37, VECO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
A reading of -0.37 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/veco-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/veco-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VECO correlations · VXX correlations
