DCBO vs VXZ: Correlation
How closely do Docebo Inc. (DCBO) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DCBO and VXZ?
On 3 years of weekly data the DCBO/VXZ correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.11) than the 3-year average (-0.28). The 5-year figure is -0.33, and annualized covariance runs at -327.4 %².
Out of 12 assets tracked against DCBO, VXZ lands near the bottom at #10. Twelve-month performance is nearly a tie, at -18.1% for DCBO and -16.1% for VXZ. One caveat on sizing: DCBO is 1.8 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.
DCBO vs VXZ: side by side
| DCBO (Docebo Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -18.1% | -16.1% |
| 5-year return | -69.8% | -53.1% |
| Volatility (ann.) | 45.4% | 25.6% |
| Beta vs S&P 500 | 1.27 | -1.31 |
| Max drawdown (3Y) | -73.0% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 22.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DCBO | VXZ |
|---|---|---|
| 2022 | -50.8% | +0.5% |
| 2023 | +46.0% | -44.0% |
| 2024 | -7.5% | -12.7% |
| 2025 | -50.4% | +5.7% |
| 2026 | +14.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DCBO and VXZ good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DCBO and VXZ?
The DCBO/VXZ correlation stands at -0.28 on a 3-year window (1 year: -0.11, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for DCBO?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 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/dcbo-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dcbo-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DCBO correlations · VXZ correlations
