CHGG vs VXX: Correlation
Chegg, Inc. (CHGG) 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 -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHGG and VXX?
Across a 3-year window, the weekly returns of CHGG and VXX correlate at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. Stretching to 5 years gives -0.20, with an annualized covariance of -1330.9 %².
VXX is close to the least connected end of CHGG's tracked universe, ranking #10 of 10. On 12-month performance CHGG holds a 10.4-point edge, -39.3% against -49.7%. Risk is not evenly split, since CHGG carries 1.6 times the volatility of the other side.
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.
CHGG vs VXX: side by side
| CHGG (Chegg, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -39.3% | -49.7% |
| 5-year return | -99.0% | -95.6% |
| Volatility (ann.) | 97.4% | 60.9% |
| Beta vs S&P 500 | 1.77 | -3.31 |
| Max drawdown (3Y) | -96.1% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHGG | VXX |
|---|---|---|
| 2022 | -17.7% | -23.8% |
| 2023 | -55.0% | -72.5% |
| 2024 | -85.8% | -26.2% |
| 2025 | -42.2% | -42.2% |
| 2026 | -13.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGG and VXX good diversifiers for each other?
Yes. With a correlation of -0.22, CHGG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CHGG and VXX?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.16 over the last year and -0.20 over 5 years.
Is VXX a good diversifier for CHGG?
Yes. With a correlation of -0.22, CHGG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/chgg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/chgg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHGG correlations · VXX correlations
