VXX vs WSC: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and WillScot Holdings Corporation (WSC) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WSC?
Across a 3-year window, the weekly returns of VXX and WSC correlate at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.42 over 3 years. Stretching to 5 years gives -0.40, with an annualized covariance of -1168.5 %².
Within VXX's tracked universe of 2872 assets, WSC comes in at #2137 by 3-year correlation. The last year tells two different stories: WSC led by 34.8 percentage points, -49.7% for VXX against -14.9% for WSC.
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 WSC: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WSC (WillScot Holdings Corporation) | |
|---|---|---|
| 1-year return | -49.7% | -14.9% |
| 5-year return | -95.6% | -27.7% |
| Volatility (ann.) | 60.9% | 45.9% |
| Beta vs S&P 500 | -3.31 | 1.72 |
| Max drawdown (3Y) | -83.3% | -70.7% |
| Market cap | – | $3.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.31% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WSC |
|---|---|---|
| 2022 | -23.8% | +10.6% |
| 2023 | -72.5% | -1.5% |
| 2024 | -26.2% | -24.8% |
| 2025 | -42.2% | -43.1% |
| 2026 | -31.6% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WSC good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and WSC?
As of 2026-08-27, the correlation of weekly returns between VXX and WSC is -0.42 over 3 years, -0.25 over 1 year and -0.40 over 5 years.
Is WSC a good diversifier for VXX?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
A reading of -0.42 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-wsc.json
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[](https://www.pairbook.io/pair/vxx-vs-wsc/)
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Related comparisons
Hubs: VXX correlations · WSC correlations
