VXX vs WFG: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and West Fraser Timber Co. Ltd (WFG) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WFG?
Over the past 3 years, VXX and WFG moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.16) sits close to the 3-year figure. Over 5 years the correlation is -0.24, and the annualized covariance of weekly returns is -401.9 %².
By 3-year correlation, WFG places #236 of the 2872 assets tracked against VXX. Correlation aside, the last 12 months split them widely, with WFG ahead by 46.1 points (-49.7% versus -3.6%). One caveat on sizing: VXX is 2.2 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 WFG: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WFG (West Fraser Timber Co. Ltd) | |
|---|---|---|
| 1-year return | -49.7% | -3.6% |
| 5-year return | -95.6% | -6.2% |
| Volatility (ann.) | 60.9% | 28.1% |
| Beta vs S&P 500 | -3.31 | 0.63 |
| Max drawdown (3Y) | -83.3% | -42.0% |
| Market cap | – | $5.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WFG |
|---|---|---|
| 2022 | -23.8% | -23.1% |
| 2023 | -72.5% | +20.3% |
| 2024 | -26.2% | +2.6% |
| 2025 | -42.2% | -28.8% |
| 2026 | -31.6% | +14.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WFG good diversifiers for each other?
Yes. With a correlation of -0.23, VXX and WFG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and WFG?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.16 over the last year and -0.24 over 5 years.
Is WFG a good diversifier for VXX?
Yes. With a correlation of -0.23, VXX and WFG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-wfg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxx-vs-wfg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXX correlations · WFG correlations
