VXX vs WKC: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and World Kinect Corporation (WKC) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WKC?
Over the past 3 years, VXX and WKC moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.37). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -701.3 %².
By 3-year correlation, WKC places #1695 of the 2872 assets tracked against VXX. Their recent paths diverged sharply: over the last 12 months WKC outperformed by 86.2 percentage points (-49.7% for VXX against +36.5% for WKC). One caveat on sizing: VXX is 2.0 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 WKC: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WKC (World Kinect Corporation) | |
|---|---|---|
| 1-year return | -49.7% | +36.5% |
| 5-year return | -95.6% | +26.9% |
| Volatility (ann.) | 60.9% | 31.0% |
| Beta vs S&P 500 | -3.31 | 0.78 |
| Max drawdown (3Y) | -83.3% | -25.4% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.30% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WKC |
|---|---|---|
| 2022 | -23.8% | +5.3% |
| 2023 | -72.5% | -14.6% |
| 2024 | -26.2% | +23.8% |
| 2025 | -42.2% | -12.3% |
| 2026 | -31.6% | +55.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WKC good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXX and WKC?
The VXX/WKC correlation stands at -0.37 on a 3-year window (1 year: -0.04, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is WKC a good diversifier for VXX?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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-wkc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxx-vs-wkc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · WKC correlations
