VXX vs XPRO: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Expro Ltd (XPRO) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and XPRO?
On 3 years of weekly data the VXX/XPRO correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.02) runs above the 3-year figure (-0.30). The 5-year figure is -0.29, and annualized covariance runs at -886.4 %².
Within VXX's tracked universe of 2872 assets, XPRO comes in at #991 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XPRO outperformed by 95.3 percentage points (-49.7% for VXX against +45.6% for XPRO).
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 XPRO: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | XPRO (Expro Ltd) | |
|---|---|---|
| 1-year return | -49.7% | +45.6% |
| 5-year return | -95.6% | +6.0% |
| Volatility (ann.) | 60.9% | 48.4% |
| Beta vs S&P 500 | -3.31 | 0.83 |
| Max drawdown (3Y) | -83.3% | -72.2% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | 100.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | XPRO |
|---|---|---|
| 2022 | -23.8% | +26.3% |
| 2023 | -72.5% | -12.2% |
| 2024 | -26.2% | -21.7% |
| 2025 | -42.2% | +7.1% |
| 2026 | -31.6% | +35.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and XPRO good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and XPRO?
The VXX/XPRO correlation stands at -0.30 on a 3-year window (1 year: 0.02, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is XPRO a good diversifier for VXX?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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-xpro.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxx-vs-xpro/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · XPRO correlations
