DBD vs VXX: Correlation
Diebold Nixdorf Incorporated (DBD) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DBD and VXX?
Over the past 3 years, DBD and VXX moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.38 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -881.1 %².
Out of 12 assets tracked against DBD, VXX lands near the bottom at #11. The last year tells two different stories: DBD led by 57.1 percentage points, +7.4% for DBD against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DBD vs VXX: side by side
| DBD (Diebold Nixdorf Incorporated) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.4% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 38.5% | 60.9% |
| Beta vs S&P 500 | 1.07 | -3.31 |
| Max drawdown (3Y) | -25.8% | -83.3% |
| Market cap | $2.3B | – |
| P/E (trailing) | 22.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DBD | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | +48.7% | -26.2% |
| 2025 | +57.7% | -42.2% |
| 2026 | -0.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DBD and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between DBD and VXX?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.16 over the last year and n/a over 5 years.
Is VXX a good diversifier for DBD?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 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/dbd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dbd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DBD correlations · VXX correlations
