PAG vs VXX: Correlation
Measured on weekly returns over the past three years, Penske Automotive Group, Inc. (PAG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAG and VXX?
Over the past 3 years, PAG and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.07) than the 3-year average (-0.27). Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -426.4 %².
VXX is close to the least connected end of PAG's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months PAG outperformed by 69.2 percentage points (+19.5% for PAG against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.3 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.
PAG vs VXX: side by side
| PAG (Penske Automotive Group, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.5% | -49.7% |
| 5-year return | +177.2% | -95.6% |
| Volatility (ann.) | 26.3% | 60.9% |
| Beta vs S&P 500 | 0.66 | -3.31 |
| Max drawdown (3Y) | -24.0% | -83.3% |
| Market cap | $14.3B | – |
| P/E (trailing) | 15.8 | – |
| Dividend yield | 2.60% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAG | VXX |
|---|---|---|
| 2022 | +9.2% | -23.8% |
| 2023 | +42.3% | -72.5% |
| 2024 | -2.5% | -26.2% |
| 2025 | +7.1% | -42.2% |
| 2026 | +41.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAG and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PAG and VXX?
As of 2026-08-27, the correlation of weekly returns between PAG and VXX is -0.27 over 3 years, -0.07 over 1 year and -0.26 over 5 years.
Is VXX a good diversifier for PAG?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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/pag-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pag-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAG correlations · VXX correlations
