PAGP vs VXX: Correlation
Measured on weekly returns over the past three years, Plains GP Holdings, L.P. - Class A Shares representing (PAGP) 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 PAGP and VXX?
On 3 years of weekly data the PAGP/VXX correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.15) runs above the 3-year figure (-0.27). The 5-year figure is -0.29, and annualized covariance runs at -379.9 %².
Out of 14 assets tracked against PAGP, VXX lands near the bottom at #13. The last year tells two different stories: PAGP led by 108.6 percentage points, +58.9% for PAGP against -49.7% for VXX. One caveat on sizing: VXX is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PAGP vs VXX: side by side
| PAGP (Plains GP Holdings, L.P. - Class A Shares representing) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +58.9% | -49.7% |
| 5-year return | +318.4% | -95.6% |
| Volatility (ann.) | 23.3% | 60.9% |
| Beta vs S&P 500 | 0.25 | -3.31 |
| Max drawdown (3Y) | -21.0% | -83.3% |
| Market cap | $6.5B | – |
| P/E (trailing) | 80.1 | – |
| Dividend yield | 5.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAGP | VXX |
|---|---|---|
| 2022 | +31.8% | -23.8% |
| 2023 | +38.1% | -72.5% |
| 2024 | +23.7% | -26.2% |
| 2025 | +12.7% | -42.2% |
| 2026 | +54.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAGP and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between PAGP and VXX?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.15 over the last year and -0.29 over 5 years.
Is VXX a good diversifier for PAGP?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/pagp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pagp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PAGP correlations · VXX correlations
