VXX vs WH: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Wyndham Hotels & Resorts, Inc. (WH) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WH?
Over the past 3 years, VXX and WH moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.24) runs above the 3-year figure (-0.38). Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -605.5 %².
By 3-year correlation, WH places #1787 of the 2872 assets tracked against VXX. Their recent paths diverged sharply: over the last 12 months WH outperformed by 38.1 percentage points (-49.7% for VXX against -11.6% for WH). 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 WH: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WH (Wyndham Hotels & Resorts, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | -11.6% |
| 5-year return | -95.6% | +15.6% |
| Volatility (ann.) | 60.9% | 25.8% |
| Beta vs S&P 500 | -3.31 | 0.72 |
| Max drawdown (3Y) | -83.3% | -37.2% |
| Market cap | – | $5.7B |
| P/E (trailing) | – | 27.8 |
| Dividend yield | 0.00% | 2.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WH |
|---|---|---|
| 2022 | -23.8% | -19.1% |
| 2023 | -72.5% | +14.9% |
| 2024 | -26.2% | +27.7% |
| 2025 | -42.2% | -23.5% |
| 2026 | -31.6% | +2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WH good diversifiers for each other?
Yes. With a correlation of -0.38, VXX and WH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and WH?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.24 over the last year and -0.41 over 5 years.
Is WH a good diversifier for VXX?
Yes. With a correlation of -0.38, VXX and WH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
A reading of -0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxx-vs-wh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-wh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXX correlations · WH correlations
