VXX vs XNCR: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Xencor, Inc. (XNCR) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and XNCR?
Over the past 3 years, VXX and XNCR moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.10 versus -0.37 over 3 years. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -1372.7 %².
Within VXX's tracked universe of 2872 assets, XNCR comes in at #1697 by 3-year correlation. The last year tells two different stories: XNCR led by 309.8 percentage points, -49.7% for VXX against +260.1% for XNCR.
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 XNCR: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | XNCR (Xencor, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | +260.1% |
| 5-year return | -95.6% | -14.8% |
| Volatility (ann.) | 60.9% | 60.9% |
| Beta vs S&P 500 | -3.31 | 1.37 |
| Max drawdown (3Y) | -83.3% | -73.9% |
| Market cap | – | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | XNCR |
|---|---|---|
| 2022 | -23.8% | -35.1% |
| 2023 | -72.5% | -18.5% |
| 2024 | -26.2% | +8.2% |
| 2025 | -42.2% | -33.4% |
| 2026 | -31.6% | +88.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and XNCR good diversifiers for each other?
Yes. With a correlation of -0.37, VXX and XNCR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and XNCR?
As of 2026-08-27, the correlation of weekly returns between VXX and XNCR is -0.37 over 3 years, -0.10 over 1 year and -0.31 over 5 years.
Is XNCR a good diversifier for VXX?
Yes. With a correlation of -0.37, VXX and XNCR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
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Related comparisons
Hubs: VXX correlations · XNCR correlations
