DOCU vs VXZ: Correlation
Measured on weekly returns over the past three years, DocuSign, Inc. (DOCU) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOCU and VXZ?
Across a 3-year window, the weekly returns of DOCU and VXZ correlate at -0.30, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Stretching to 5 years gives -0.36, with an annualized covariance of -369.8 %².
Among the 13 assets we track against DOCU, VXZ sits near the bottom by co-movement, at rank #12. Neither side won the trailing year by much: -14.6% against -16.1%. Note the risk asymmetry: DOCU runs 1.9 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.
DOCU vs VXZ: side by side
| DOCU (DocuSign, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -14.6% | -16.1% |
| 5-year return | -79.0% | -53.1% |
| Volatility (ann.) | 48.0% | 25.6% |
| Beta vs S&P 500 | 1.22 | -1.31 |
| Max drawdown (3Y) | -61.0% | -36.4% |
| Market cap | $12.2B | – |
| P/E (trailing) | 41.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DOCU | VXZ |
|---|---|---|
| 2022 | -63.6% | +0.5% |
| 2023 | +7.3% | -44.0% |
| 2024 | +51.3% | -12.7% |
| 2025 | -23.9% | +5.7% |
| 2026 | -6.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOCU and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, DOCU and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DOCU and VXZ?
As of 2026-08-27, the correlation of weekly returns between DOCU and VXZ is -0.30 over 3 years, -0.20 over 1 year and -0.36 over 5 years.
Is VXZ a good diversifier for DOCU?
Yes. With a correlation of -0.30, DOCU and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 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
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[](https://www.pairbook.io/pair/docu-vs-vxz/)
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Related comparisons
Hubs: DOCU correlations · VXZ correlations
