FOUR vs VXX: Correlation
Measured on weekly returns over the past three years, Shift4 Payments, Inc. (FOUR) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOUR and VXX?
On 3 years of weekly data the FOUR/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.06) runs above the 3-year figure (-0.37). The 5-year figure is -0.35, and annualized covariance runs at -1183.8 %².
Among the 20 assets we track against FOUR, VXX sits near the bottom by co-movement, at rank #19. Twelve-month performance is nearly a tie, at -51.3% for FOUR and -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.
FOUR vs VXX: side by side
| FOUR (Shift4 Payments, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -51.3% | -49.7% |
| 5-year return | -48.7% | -95.6% |
| Volatility (ann.) | 52.8% | 60.9% |
| Beta vs S&P 500 | 1.43 | -3.31 |
| Max drawdown (3Y) | -71.6% | -83.3% |
| Market cap | $3.5B | – |
| P/E (trailing) | 68.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOUR | VXX |
|---|---|---|
| 2022 | -3.5% | -23.8% |
| 2023 | +32.9% | -72.5% |
| 2024 | +39.6% | -26.2% |
| 2025 | -39.3% | -42.2% |
| 2026 | -30.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOUR and VXX good diversifiers for each other?
Yes. With a correlation of -0.37, FOUR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FOUR and VXX?
The FOUR/VXX correlation stands at -0.37 on a 3-year window (1 year: -0.06, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for FOUR?
Yes. With a correlation of -0.37, FOUR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
A reading of -0.37 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/four-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/four-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FOUR correlations · VXX correlations
