NOW vs VXX: Correlation
ServiceNow (NOW) 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 -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOW and VXX?
Across a 3-year window, the weekly returns of NOW and VXX correlate at -0.32, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.32). Stretching to 5 years gives -0.35, with an annualized covariance of -840.5 %².
VXX is close to the least connected end of NOW's tracked universe, ranking #52 of 54. Their recent paths diverged sharply: over the last 12 months NOW outperformed by 27.6 percentage points (-22.1% for NOW 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.
NOW vs VXX: side by side
| NOW (ServiceNow) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -22.1% | -49.7% |
| 5-year return | +7.9% | -95.6% |
| Volatility (ann.) | 43.2% | 60.9% |
| Beta vs S&P 500 | 1.38 | -3.31 |
| Max drawdown (3Y) | -64.5% | -83.3% |
| Market cap | $143.1B | – |
| P/E (trailing) | 78.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | NOW | VXX |
|---|---|---|
| 2022 | -40.2% | -23.8% |
| 2023 | +82.0% | -72.5% |
| 2024 | +50.1% | -26.2% |
| 2025 | -27.7% | -42.2% |
| 2026 | -9.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOW and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between NOW and VXX?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.08 over the last year and -0.35 over 5 years.
Is VXX a good diversifier for NOW?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
A reading of -0.32 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/now-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/now-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NOW correlations · VXX correlations
