VOO vs VXX: Correlation
Measured on weekly returns over the past three years, Vanguard S&P 500 ETF (VOO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.79, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VOO and VXX?
On 3 years of weekly data the VOO/VXX correlation comes out at -0.79, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.74 lands near the 3-year figure. The 5-year figure is -0.69, and annualized covariance runs at -688.2 %².
VXX is close to the least connected end of VOO's tracked universe, ranking #123 of 124. The last year tells two different stories: VOO led by 70.3 percentage points, +20.6% for VOO against -49.7% for VXX. Risk is not evenly split, since VXX carries 4.2 times the volatility of the other side.
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.
VOO vs VXX: side by side
| VOO (Vanguard S&P 500 ETF) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +20.6% | -49.7% |
| 5-year return | +83.0% | -95.6% |
| Volatility (ann.) | 14.4% | 60.9% |
| Beta vs S&P 500 | 0.99 | -3.31 |
| Max drawdown (3Y) | -18.7% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.07% | 0.00% |
| Expense ratio | 0.03% | – |
| Assets under management | $1,686.9B | – |
| Sector / category | ETF · US Large Cap | US Listed |
On the fund side, VOO sits in the Large Blend category at Vanguard, with $1,686.9B under management, 503 holdings, a 0.03% expense ratio, a 1.07% trailing dividend yield.
Year-by-year returns
| Year | VOO | VXX |
|---|---|---|
| 2022 | -18.2% | -23.8% |
| 2023 | +26.3% | -72.5% |
| 2024 | +25.0% | -26.2% |
| 2025 | +17.8% | -42.2% |
| 2026 | +13.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VOO and VXX good diversifiers for each other?
Yes: at -0.79, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VOO and VXX?
Using weekly returns as of 2026-08-27: -0.79 over 3 years, with -0.74 over the last year and -0.69 over 5 years.
Is VXX a good diversifier for VOO?
Yes: at -0.79, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.79 mean?
A reading of -0.79 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/voo-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/voo-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VOO correlations · VXX correlations
