AXGN vs VXX: Correlation
Axogen, Inc. (AXGN) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXGN and VXX?
On 3 years of weekly data the AXGN/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is -0.23, and annualized covariance runs at -1110.5 %².
VXX is close to the least connected end of AXGN's tracked universe, ranking #13 of 14. The last year tells two different stories: AXGN led by 270.2 percentage points, +220.5% for AXGN against -49.7% for VXX.
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.
AXGN vs VXX: side by side
| AXGN (Axogen, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +220.5% | -49.7% |
| 5-year return | +213.9% | -95.6% |
| Volatility (ann.) | 63.3% | 60.9% |
| Beta vs S&P 500 | 1.11 | -3.31 |
| Max drawdown (3Y) | -53.8% | -83.3% |
| Market cap | $2.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXGN | VXX |
|---|---|---|
| 2022 | +6.5% | -23.8% |
| 2023 | -31.6% | -72.5% |
| 2024 | +141.3% | -26.2% |
| 2025 | +98.6% | -42.2% |
| 2026 | +58.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXGN and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AXGN and VXX?
As of 2026-08-27, the correlation of weekly returns between AXGN and VXX is -0.29 over 3 years, -0.26 over 1 year and -0.23 over 5 years.
Is VXX a good diversifier for AXGN?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/axgn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axgn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXGN correlations · VXX correlations
