DNLI vs VXX: Correlation
Denali Therapeutics Inc. (DNLI) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNLI and VXX?
On 3 years of weekly data the DNLI/VXX correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.25 versus -0.40 over 3 years. The 5-year figure is -0.35, and annualized covariance runs at -1481.4 %².
Out of 25 assets tracked against DNLI, VXX lands near the bottom at #25. Correlation aside, the last 12 months split them widely, with DNLI ahead by 107.8 points (+58.1% versus -49.7%).
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.
DNLI vs VXX: side by side
| DNLI (Denali Therapeutics Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +58.1% | -49.7% |
| 5-year return | -53.4% | -95.6% |
| Volatility (ann.) | 60.6% | 60.9% |
| Beta vs S&P 500 | 2.02 | -3.31 |
| Max drawdown (3Y) | -63.7% | -83.3% |
| Market cap | $3.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNLI | VXX |
|---|---|---|
| 2022 | -37.6% | -23.8% |
| 2023 | -22.8% | -72.5% |
| 2024 | -5.0% | -26.2% |
| 2025 | -19.0% | -42.2% |
| 2026 | +49.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNLI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between DNLI and VXX?
As of 2026-08-27, the correlation of weekly returns between DNLI and VXX is -0.40 over 3 years, -0.25 over 1 year and -0.35 over 5 years.
Is VXX a good diversifier for DNLI?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/dnli-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dnli-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DNLI correlations · VXX correlations
