VXX vs W: Correlation
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Wayfair Inc. (W) show a negative relationship: their 3-year correlation of weekly returns is -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and W?
Over the past 3 years, VXX and W moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.23) than the 3-year average (-0.43). Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -1750.5 %².
By 3-year correlation, W places #2195 of the 2872 assets tracked against VXX. The last year tells two different stories: W led by 90.7 percentage points, -49.7% for VXX against +41.0% for W.
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.
VXX vs W: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | W (Wayfair Inc.) | |
|---|---|---|
| 1-year return | -49.7% | +41.0% |
| 5-year return | -95.6% | -64.0% |
| Volatility (ann.) | 60.9% | 67.1% |
| Beta vs S&P 500 | -3.31 | 2.50 |
| Max drawdown (3Y) | -83.3% | -67.7% |
| Market cap | – | $14.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | W |
|---|---|---|
| 2022 | -23.8% | -82.7% |
| 2023 | -72.5% | +87.6% |
| 2024 | -26.2% | -28.2% |
| 2025 | -42.2% | +126.6% |
| 2026 | -31.6% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and W good diversifiers for each other?
Yes. With a correlation of -0.43, VXX and W have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and W?
As of 2026-08-27, the correlation of weekly returns between VXX and W is -0.43 over 3 years, -0.23 over 1 year and -0.38 over 5 years.
Is W a good diversifier for VXX?
Yes. With a correlation of -0.43, VXX and W have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 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/vxx-vs-w.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxx-vs-w/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · W correlations
