KOD vs VXX: Correlation
Kodiak Sciences Inc (KOD) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KOD and VXX?
On 3 years of weekly data the KOD/VXX correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.36). The 5-year figure is -0.31, and annualized covariance runs at -2736.6 %².
VXX is close to the least connected end of KOD's tracked universe, ranking #12 of 12. Their recent paths diverged sharply: over the last 12 months KOD outperformed by 368.5 percentage points (+318.8% for KOD against -49.7% for VXX). Note the risk asymmetry: KOD runs 2.0 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.
KOD vs VXX: side by side
| KOD (Kodiak Sciences Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +318.8% | -49.7% |
| 5-year return | -59.3% | -95.6% |
| Volatility (ann.) | 123.8% | 60.9% |
| Beta vs S&P 500 | 2.99 | -3.31 |
| Max drawdown (3Y) | -81.1% | -83.3% |
| Market cap | $2.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KOD | VXX |
|---|---|---|
| 2022 | -91.6% | -23.8% |
| 2023 | -57.5% | -72.5% |
| 2024 | +227.3% | -26.2% |
| 2025 | +181.0% | -42.2% |
| 2026 | +39.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KOD and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between KOD and VXX?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.14 over the last year and -0.31 over 5 years.
Is VXX a good diversifier for KOD?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/kod-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kod-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: KOD correlations · VXX correlations
