DAVE vs VXX: Correlation
How closely do Dave Inc. (DAVE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DAVE and VXX?
Over the past 3 years, DAVE and VXX moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -1352.2 %².
Out of 11 assets tracked against DAVE, VXX lands near the bottom at #9. The last year tells two different stories: DAVE led by 129.7 percentage points, +80.0% for DAVE against -49.7% for VXX. One caveat on sizing: DAVE is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DAVE vs VXX: side by side
| DAVE (Dave Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +80.0% | -49.7% |
| 5-year return | +18.4% | -95.6% |
| Volatility (ann.) | 100.5% | 60.9% |
| Beta vs S&P 500 | 2.12 | -3.31 |
| Max drawdown (3Y) | -44.7% | -83.3% |
| Market cap | $4.8B | – |
| P/E (trailing) | 24.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DAVE | VXX |
|---|---|---|
| 2022 | -97.2% | -23.8% |
| 2023 | -9.6% | -72.5% |
| 2024 | +936.6% | -26.2% |
| 2025 | +154.7% | -42.2% |
| 2026 | +68.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DAVE and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between DAVE and VXX?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.28 over the last year and -0.14 over 5 years.
Is VXX a good diversifier for DAVE?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dave-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dave-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DAVE correlations · VXX correlations
