DMRC vs VXX: Correlation
Measured on weekly returns over the past three years, Digimarc Corporation (DMRC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMRC and VXX?
On 3 years of weekly data the DMRC/VXX correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. The 5-year figure is -0.32, and annualized covariance runs at -1529.7 %².
VXX is close to the least connected end of DMRC's tracked universe, ranking #15 of 16. The last year tells two different stories: DMRC led by 23.6 percentage points, -26.1% for DMRC against -49.7% for VXX.
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.
DMRC vs VXX: side by side
| DMRC (Digimarc Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -26.1% | -49.7% |
| 5-year return | -77.7% | -95.6% |
| Volatility (ann.) | 76.3% | 60.9% |
| Beta vs S&P 500 | 2.38 | -3.31 |
| Max drawdown (3Y) | -90.8% | -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 | DMRC | VXX |
|---|---|---|
| 2022 | -53.2% | -23.8% |
| 2023 | +95.3% | -72.5% |
| 2024 | +3.7% | -26.2% |
| 2025 | -82.5% | -42.2% |
| 2026 | -4.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMRC and VXX good diversifiers for each other?
Yes. With a correlation of -0.33, DMRC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DMRC and VXX?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.31 over the last year and -0.32 over 5 years.
Is VXX a good diversifier for DMRC?
Yes. With a correlation of -0.33, DMRC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dmrc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dmrc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DMRC correlations · VXX correlations
