VXX vs YTRA: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Yatra Online, Inc. (YTRA) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and YTRA?
Over the past 3 years, VXX and YTRA moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.24). Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -835.6 %².
Within VXX's tracked universe of 2872 assets, YTRA comes in at #327 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months YTRA outperformed by 20.1 percentage points (-49.7% for VXX against -29.6% for YTRA).
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 YTRA: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | YTRA (Yatra Online, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | -29.6% |
| 5-year return | -95.6% | -46.2% |
| Volatility (ann.) | 60.9% | 56.1% |
| Beta vs S&P 500 | -3.31 | 1.03 |
| Max drawdown (3Y) | -83.3% | -77.4% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | YTRA |
|---|---|---|
| 2022 | -23.8% | +39.3% |
| 2023 | -72.5% | -32.4% |
| 2024 | -26.2% | -22.7% |
| 2025 | -42.2% | +41.3% |
| 2026 | -31.6% | -44.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and YTRA good diversifiers for each other?
Yes. With a correlation of -0.24, VXX and YTRA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and YTRA?
As of 2026-08-27, the correlation of weekly returns between VXX and YTRA is -0.24 over 3 years, -0.13 over 1 year and -0.21 over 5 years.
Is YTRA a good diversifier for VXX?
Yes. With a correlation of -0.24, VXX and YTRA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: VXX correlations · YTRA correlations
