VMD vs VXX: Correlation
Viemed Healthcare, Inc. (VMD) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VMD and VXX?
Over the past 3 years, VMD and VXX moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.01 versus -0.31 over 3 years. Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -763.8 %².
Among the 12 assets we track against VMD, VXX sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months VMD outperformed by 75.2 percentage points (+25.5% for VMD against -49.7% for VXX). One caveat on sizing: VXX is 1.5 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.
VMD vs VXX: side by side
| VMD (Viemed Healthcare, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.5% | -49.7% |
| 5-year return | +43.9% | -95.6% |
| Volatility (ann.) | 40.5% | 60.9% |
| Beta vs S&P 500 | 0.73 | -3.31 |
| Max drawdown (3Y) | -40.6% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 25.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VMD | VXX |
|---|---|---|
| 2022 | +44.8% | -23.8% |
| 2023 | +3.8% | -72.5% |
| 2024 | +2.2% | -26.2% |
| 2025 | -7.4% | -42.2% |
| 2026 | +21.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VMD and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between VMD and VXX?
The VMD/VXX correlation stands at -0.31 on a 3-year window (1 year: -0.01, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for VMD?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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/vmd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vmd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VMD correlations · VXX correlations
