FRSH vs VXX: Correlation
Freshworks Inc. (FRSH) 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 FRSH and VXX?
On 3 years of weekly data the FRSH/VXX correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.11) runs above the 3-year figure (-0.40). The 5-year figure is -0.34, and annualized covariance runs at -1190.5 %².
Among the 28 assets we track against FRSH, VXX sits near the bottom by co-movement, at rank #27. Their recent paths diverged sharply: over the last 12 months FRSH outperformed by 50.3 percentage points (+0.6% for FRSH 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.
FRSH vs VXX: side by side
| FRSH (Freshworks Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.6% | -49.7% |
| 5-year return | -71.2% | -95.6% |
| Volatility (ann.) | 48.9% | 60.9% |
| Beta vs S&P 500 | 1.46 | -3.31 |
| Max drawdown (3Y) | -71.9% | -83.3% |
| Market cap | $3.6B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRSH | VXX |
|---|---|---|
| 2022 | -44.0% | -23.8% |
| 2023 | +59.7% | -72.5% |
| 2024 | -31.2% | -26.2% |
| 2025 | -24.2% | -42.2% |
| 2026 | +11.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRSH and VXX good diversifiers for each other?
Yes. With a correlation of -0.40, FRSH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRSH and VXX?
The FRSH/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.11, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for FRSH?
Yes. With a correlation of -0.40, FRSH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
A reading of -0.40 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/frsh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frsh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRSH correlations · VXX correlations
