VXX vs WIT: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Wipro Limited (WIT) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WIT?
Over the past 3 years, VXX and WIT moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.33 over 3 years. Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -651.7 %².
By 3-year correlation, WIT places #1320 of the 2872 assets tracked against VXX. The trailing year gives WIT the advantage: -49.7% versus -35.2%, a 14.5-point spread. One caveat on sizing: VXX is 1.9 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 WIT: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WIT (Wipro Limited) | |
|---|---|---|
| 1-year return | -49.7% | -35.2% |
| 5-year return | -95.6% | -58.2% |
| Volatility (ann.) | 60.9% | 32.7% |
| Beta vs S&P 500 | -3.31 | 0.88 |
| Max drawdown (3Y) | -83.3% | -51.2% |
| Market cap | – | $17.8B |
| P/E (trailing) | – | 13.8 |
| Dividend yield | 0.00% | 437.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WIT |
|---|---|---|
| 2022 | -23.8% | -51.8% |
| 2023 | -72.5% | +19.8% |
| 2024 | -26.2% | +27.4% |
| 2025 | -42.2% | -16.6% |
| 2026 | -31.6% | -35.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WIT good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and WIT?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.21 over the last year and -0.35 over 5 years.
Is WIT a good diversifier for VXX?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 mean?
A reading of -0.33 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-wit.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-wit/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VXX correlations · WIT correlations
