GPN vs VXX: Correlation
Global Payments (GPN) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GPN and VXX?
Over the past 3 years, GPN and VXX moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.44 over 3. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -973.3 %².
VXX is close to the least connected end of GPN's tracked universe, ranking #38 of 39. The last year tells two different stories: GPN led by 56.7 percentage points, +7.0% for GPN against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.7 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.
GPN vs VXX: side by side
| GPN (Global Payments) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.0% | -49.7% |
| 5-year return | -39.6% | -95.6% |
| Volatility (ann.) | 35.9% | 60.9% |
| Beta vs S&P 500 | 1.22 | -3.31 |
| Max drawdown (3Y) | -54.0% | -83.3% |
| Market cap | $24.5B | – |
| P/E (trailing) | 44.0 | – |
| Dividend yield | 1.08% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | GPN | VXX |
|---|---|---|
| 2022 | -25.9% | -23.8% |
| 2023 | +29.0% | -72.5% |
| 2024 | -11.0% | -26.2% |
| 2025 | -30.1% | -42.2% |
| 2026 | +20.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GPN and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between GPN and VXX?
The GPN/VXX correlation stands at -0.44 on a 3-year window (1 year: -0.34, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for GPN?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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/gpn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gpn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GPN correlations · VXX correlations
