VXX vs WAFD: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and WaFd, Inc. (WAFD) trade together? Their weekly returns over three years give a correlation of -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WAFD?
Across a 3-year window, the weekly returns of VXX and WAFD correlate at -0.44, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.44). Stretching to 5 years gives -0.41, with an annualized covariance of -766.5 %².
Among the 2872 assets we track against VXX, WAFD ranks #2256 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WAFD outperformed by 66.6 percentage points (-49.7% for VXX against +16.9% for WAFD). One caveat on sizing: VXX is 2.1 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.
VXX vs WAFD: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WAFD (WaFd, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | +16.9% |
| 5-year return | -95.6% | +28.1% |
| Volatility (ann.) | 60.9% | 28.8% |
| Beta vs S&P 500 | -3.31 | 0.70 |
| Max drawdown (3Y) | -83.3% | -34.6% |
| Market cap | – | $2.7B |
| P/E (trailing) | – | 11.4 |
| Dividend yield | 0.00% | 2.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WAFD |
|---|---|---|
| 2022 | -23.8% | +3.4% |
| 2023 | -72.5% | +1.7% |
| 2024 | -26.2% | +1.1% |
| 2025 | -42.2% | +3.0% |
| 2026 | -31.6% | +15.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WAFD good diversifiers for each other?
Yes. With a correlation of -0.44, VXX and WAFD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and WAFD?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.25 over the last year and -0.41 over 5 years.
Is WAFD a good diversifier for VXX?
Yes. With a correlation of -0.44, VXX and WAFD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxx-vs-wafd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-wafd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VXX correlations · WAFD correlations
