PASG vs VXX: Correlation
Measured on weekly returns over the past three years, Passage Bio, Inc. (PASG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PASG and VXX?
On 3 years of weekly data the PASG/VXX correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. The 5-year figure is -0.20, and annualized covariance runs at -1447.3 %².
Among the 14 assets we track against PASG, VXX sits near the bottom by co-movement, at rank #14. Over the last 12 months PASG came out ahead by 11.2 percentage points (-38.5% against -49.7%). One caveat on sizing: PASG is 2.1 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.
PASG vs VXX: side by side
| PASG (Passage Bio, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -38.5% | -49.7% |
| 5-year return | -98.1% | -95.6% |
| Volatility (ann.) | 128.4% | 60.9% |
| Beta vs S&P 500 | 2.11 | -3.31 |
| Max drawdown (3Y) | -88.2% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PASG | VXX |
|---|---|---|
| 2022 | -78.3% | -23.8% |
| 2023 | -26.8% | -72.5% |
| 2024 | -43.9% | -26.2% |
| 2025 | +4.1% | -42.2% |
| 2026 | -63.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PASG and VXX good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PASG and VXX?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.28 over the last year and -0.20 over 5 years.
Is VXX a good diversifier for PASG?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/pasg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pasg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PASG correlations · VXX correlations
