VXX vs WHD: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Cactus, Inc. (WHD) trade together? Their weekly returns over three years give a correlation of -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WHD?
On 3 years of weekly data the VXX/WHD correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.27) than the 3-year average (-0.38). The 5-year figure is -0.36, and annualized covariance runs at -955.6 %².
By 3-year correlation, WHD places #1788 of the 2872 assets tracked against VXX. The last year tells two different stories: WHD led by 115.8 percentage points, -49.7% for VXX against +66.1% for WHD.
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 WHD: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WHD (Cactus, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | +66.1% |
| 5-year return | -95.6% | +89.5% |
| Volatility (ann.) | 60.9% | 41.2% |
| Beta vs S&P 500 | -3.31 | 1.11 |
| Max drawdown (3Y) | -83.3% | -51.4% |
| Market cap | – | $4.8B |
| P/E (trailing) | – | 55.7 |
| Dividend yield | 0.00% | 0.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WHD |
|---|---|---|
| 2022 | -23.8% | +33.0% |
| 2023 | -72.5% | -8.7% |
| 2024 | -26.2% | +29.7% |
| 2025 | -42.2% | -20.8% |
| 2026 | -31.6% | +50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WHD good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and WHD?
As of 2026-08-27, the correlation of weekly returns between VXX and WHD is -0.38 over 3 years, -0.27 over 1 year and -0.36 over 5 years.
Is WHD a good diversifier for VXX?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
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-whd.json
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[](https://www.pairbook.io/pair/vxx-vs-whd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXX correlations · WHD correlations
