VXX vs WMB: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Williams Companies (WMB) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WMB?
Across a 3-year window, the weekly returns of VXX and WMB correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.15) runs above the 3-year figure (-0.22). Stretching to 5 years gives -0.23, with an annualized covariance of -327.5 %².
By 3-year correlation, WMB places #159 of the 2872 assets tracked against VXX. Their recent paths diverged sharply: over the last 12 months WMB outperformed by 82.8 percentage points (-49.7% for VXX against +33.1% for WMB). Risk is not evenly split, since VXX carries 2.5 times the volatility of the other side.
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 WMB: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WMB (Williams Companies) | |
|---|---|---|
| 1-year return | -49.7% | +33.1% |
| 5-year return | -95.6% | +279.9% |
| Volatility (ann.) | 60.9% | 24.0% |
| Beta vs S&P 500 | -3.31 | 0.34 |
| Max drawdown (3Y) | -83.3% | -12.4% |
| Market cap | – | $90.7B |
| P/E (trailing) | – | 29.7 |
| Dividend yield | 0.00% | 2.76% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | VXX | WMB |
|---|---|---|
| 2022 | -23.8% | +32.8% |
| 2023 | -72.5% | +11.9% |
| 2024 | -26.2% | +62.3% |
| 2025 | -42.2% | +14.9% |
| 2026 | -31.6% | +25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WMB good diversifiers for each other?
Yes. With a correlation of -0.22, VXX and WMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and WMB?
The VXX/WMB correlation stands at -0.22 on a 3-year window (1 year: 0.15, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is WMB a good diversifier for VXX?
Yes. With a correlation of -0.22, VXX and WMB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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.
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Hubs: VXX correlations · WMB correlations
