VXX vs WMS: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Advanced Drainage Systems, Inc. (WMS) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WMS?
On 3 years of weekly data the VXX/WMS correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.45 lands near the 3-year figure. The 5-year figure is -0.39, and annualized covariance runs at -974.2 %².
Within VXX's tracked universe of 2872 assets, WMS comes in at #2197 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WMS ahead by 45.3 points (-49.7% versus -4.4%). One caveat on sizing: VXX is 1.6 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 WMS: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WMS (Advanced Drainage Systems, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | -4.4% |
| 5-year return | -95.6% | +22.1% |
| Volatility (ann.) | 60.9% | 37.1% |
| Beta vs S&P 500 | -3.31 | 1.31 |
| Max drawdown (3Y) | -83.3% | -45.8% |
| Market cap | – | $10.5B |
| P/E (trailing) | – | 23.6 |
| Dividend yield | 0.00% | 0.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WMS |
|---|---|---|
| 2022 | -23.8% | -39.5% |
| 2023 | -72.5% | +72.4% |
| 2024 | -26.2% | -17.5% |
| 2025 | -42.2% | +26.0% |
| 2026 | -31.6% | -3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WMS good diversifiers for each other?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXX and WMS?
As of 2026-08-27, the correlation of weekly returns between VXX and WMS is -0.43 over 3 years, -0.45 over 1 year and -0.39 over 5 years.
Is WMS a good diversifier for VXX?
Yes: at -0.43, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.43 mean?
A reading of -0.43 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-wms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-wms/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXX correlations · WMS correlations
