DUOL vs VXZ: Correlation
How closely do Duolingo, Inc. (DUOL) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUOL and VXZ?
Over the past 3 years, DUOL and VXZ moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.36) sits close to the 3-year figure. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -559.7 %².
VXZ is close to the least connected end of DUOL's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 39.0 percentage points (-55.1% for DUOL against -16.1% for VXZ). Risk is not evenly split, since DUOL carries 2.4 times the volatility of the other side.
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.
DUOL vs VXZ: side by side
| DUOL (Duolingo, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -55.1% | -16.1% |
| 5-year return | +11.0% | -53.1% |
| Volatility (ann.) | 62.1% | 25.6% |
| Beta vs S&P 500 | 1.55 | -1.31 |
| Max drawdown (3Y) | -83.3% | -36.4% |
| Market cap | $6.7B | – |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DUOL | VXZ |
|---|---|---|
| 2022 | -33.0% | +0.5% |
| 2023 | +218.9% | -44.0% |
| 2024 | +42.9% | -12.7% |
| 2025 | -45.9% | +5.7% |
| 2026 | -18.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUOL and VXZ good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DUOL and VXZ?
As of 2026-08-27, the correlation of weekly returns between DUOL and VXZ is -0.35 over 3 years, -0.36 over 1 year and -0.37 over 5 years.
Is VXZ a good diversifier for DUOL?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/duol-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/duol-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DUOL correlations · VXZ correlations
