VIK vs VXX: Correlation
Viking Holdings Ltd (VIK) 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 -0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VIK and VXX?
On 3 years of weekly data the VIK/VXX correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.45 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -1019.1 %².
Among the 21 assets we track against VIK, VXX sits near the bottom by co-movement, at rank #21. The last year tells two different stories: VIK led by 92.4 percentage points, +42.7% for VIK against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
VIK vs VXX: side by side
| VIK (Viking Holdings Ltd) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +42.7% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 33.6% | 60.9% |
| Beta vs S&P 500 | 1.31 | -3.31 |
| Max drawdown (3Y) | -35.4% | -83.3% |
| Market cap | $40.1B | – |
| P/E (trailing) | 30.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VIK | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | – | -26.2% |
| 2025 | +62.1% | -42.2% |
| 2026 | +25.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VIK and VXX good diversifiers for each other?
Yes. With a correlation of -0.47, VIK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VIK and VXX?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.45 over the last year and n/a over 5 years.
Is VXX a good diversifier for VIK?
Yes. With a correlation of -0.47, VIK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 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/vik-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vik-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VIK correlations · VXX correlations
