VMC vs VXX: Correlation
How closely do Vulcan Materials Company (VMC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VMC and VXX?
Over the past 3 years, VMC and VXX moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.40 over 1 year against -0.37 over 3. Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -561.1 %².
Among the 34 assets we track against VMC, VXX sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with VMC ahead by 44.5 points (-5.2% versus -49.7%). One caveat on sizing: VXX is 2.4 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.
VMC vs VXX: side by side
| VMC (Vulcan Materials Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.2% | -49.7% |
| 5-year return | +53.2% | -95.6% |
| Volatility (ann.) | 25.2% | 60.9% |
| Beta vs S&P 500 | 0.82 | -3.31 |
| Max drawdown (3Y) | -24.4% | -83.3% |
| Market cap | $35.5B | – |
| P/E (trailing) | 32.3 | – |
| Dividend yield | 0.74% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | VMC | VXX |
|---|---|---|
| 2022 | -14.9% | -23.8% |
| 2023 | +30.8% | -72.5% |
| 2024 | +14.1% | -26.2% |
| 2025 | +11.7% | -42.2% |
| 2026 | -3.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VMC and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VMC and VXX?
As of 2026-08-27, the correlation of weekly returns between VMC and VXX is -0.37 over 3 years, -0.40 over 1 year and -0.39 over 5 years.
Is VXX a good diversifier for VMC?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 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/vmc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vmc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VMC correlations · VXX correlations
