DB vs VXX: Correlation
Deutsche Bank AG (DB) 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 -0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DB and VXX?
Across a 3-year window, the weekly returns of DB and VXX correlate at -0.50, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.68 versus -0.50 over 3 years. Stretching to 5 years gives -0.44, with an annualized covariance of -990.4 %².
Out of 11 assets tracked against DB, VXX lands near the bottom at #11. The last year tells two different stories: DB led by 68.2 percentage points, +18.5% for DB against -49.7% for VXX. One caveat on sizing: VXX is 1.9 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.
DB vs VXX: side by side
| DB (Deutsche Bank AG) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +18.5% | -49.7% |
| 5-year return | +278.5% | -95.6% |
| Volatility (ann.) | 32.7% | 60.9% |
| Beta vs S&P 500 | 1.08 | -3.31 |
| Max drawdown (3Y) | -29.7% | -83.3% |
| Market cap | $75.3B | – |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 2.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DB | VXX |
|---|---|---|
| 2022 | -5.9% | -23.8% |
| 2023 | +21.3% | -72.5% |
| 2024 | +29.5% | -26.2% |
| 2025 | +132.4% | -42.2% |
| 2026 | +7.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DB and VXX good diversifiers for each other?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DB and VXX?
Using weekly returns as of 2026-08-27: -0.50 over 3 years, with -0.68 over the last year and -0.44 over 5 years.
Is VXX a good diversifier for DB?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.50 mean?
A reading of -0.50 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/db-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/db-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DB correlations · VXX correlations
