VXX vs WASH: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Washington Trust Bancorp, Inc. (WASH) trade together? Their weekly returns over three years give a correlation of -0.49, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WASH?
Over the past 3 years, VXX and WASH moved with a correlation of -0.49, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.26 versus -0.49 over 3 years. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -1041.8 %².
Among the 2872 assets we track against VXX, WASH ranks #2526 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WASH outperformed by 89.8 percentage points (-49.7% for VXX against +40.1% for WASH). Risk is not evenly split, since VXX carries 1.7 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.
VXX vs WASH: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WASH (Washington Trust Bancorp, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | +40.1% |
| 5-year return | -95.6% | +4.8% |
| Volatility (ann.) | 60.9% | 34.9% |
| Beta vs S&P 500 | -3.31 | 1.04 |
| Max drawdown (3Y) | -83.3% | -32.3% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 13.7 |
| Dividend yield | 0.00% | 5.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WASH |
|---|---|---|
| 2022 | -23.8% | -12.5% |
| 2023 | -72.5% | -26.1% |
| 2024 | -26.2% | +2.7% |
| 2025 | -42.2% | +1.7% |
| 2026 | -31.6% | +41.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WASH good diversifiers for each other?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and WASH?
The VXX/WASH correlation stands at -0.49 on a 3-year window (1 year: -0.26, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is WASH a good diversifier for VXX?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
What does a correlation of -0.49 mean?
On the −1 to +1 scale, -0.49 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-wash.json
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Related comparisons
Hubs: VXX correlations · WASH correlations
