VXX vs WAB: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Wabtec (WAB) carry a correlation of -0.53, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WAB?
Over the past 3 years, VXX and WAB moved with a correlation of -0.53, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.32 versus -0.53 over 3 years. Over 5 years the correlation is -0.52, and the annualized covariance of weekly returns is -813.2 %².
Among the 2872 assets we track against VXX, WAB ranks #2658 by 3-year correlation. The last year tells two different stories: WAB led by 102.6 percentage points, -49.7% for VXX against +52.9% for WAB. Note the risk asymmetry: VXX runs 2.4 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.
VXX vs WAB: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | -49.7% | +52.9% |
| 5-year return | -95.6% | +241.0% |
| Volatility (ann.) | 60.9% | 25.3% |
| Beta vs S&P 500 | -3.31 | 0.99 |
| Max drawdown (3Y) | -83.3% | -23.6% |
| Market cap | – | $50.2B |
| P/E (trailing) | – | 40.5 |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | VXX | WAB |
|---|---|---|
| 2022 | -23.8% | +9.1% |
| 2023 | -72.5% | +28.0% |
| 2024 | -26.2% | +50.1% |
| 2025 | -42.2% | +13.2% |
| 2026 | -31.6% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WAB good diversifiers for each other?
By historical standards, yes. A correlation of -0.53 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and WAB?
Using weekly returns as of 2026-08-27: -0.53 over 3 years, with -0.32 over the last year and -0.52 over 5 years.
Is WAB a good diversifier for VXX?
By historical standards, yes. A correlation of -0.53 means the two rarely move for the same reasons.
What does a correlation of -0.53 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-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · WAB correlations
