VXX vs XPEL: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and XPEL, Inc. (XPEL) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and XPEL?
On 3 years of weekly data the VXX/XPEL correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.19) than the 3-year average (-0.31). The 5-year figure is -0.30, and annualized covariance runs at -1005.4 %².
Within VXX's tracked universe of 2872 assets, XPEL comes in at #1116 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XPEL ahead by 84.9 points (-49.7% versus +35.2%).
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 XPEL: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | XPEL (XPEL, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | +35.2% |
| 5-year return | -95.6% | -32.6% |
| Volatility (ann.) | 60.9% | 52.7% |
| Beta vs S&P 500 | -3.31 | 1.03 |
| Max drawdown (3Y) | -83.3% | -70.7% |
| Market cap | – | $1.4B |
| P/E (trailing) | – | 25.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | XPEL |
|---|---|---|
| 2022 | -23.8% | -12.0% |
| 2023 | -72.5% | -10.3% |
| 2024 | -26.2% | -25.8% |
| 2025 | -42.2% | +25.0% |
| 2026 | -31.6% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and XPEL good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and XPEL?
As of 2026-08-27, the correlation of weekly returns between VXX and XPEL is -0.31 over 3 years, -0.19 over 1 year and -0.30 over 5 years.
Is XPEL a good diversifier for VXX?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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-xpel.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxx-vs-xpel/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · XPEL correlations
