PCOR vs VXZ: Correlation
How closely do Procore Technologies, Inc. (PCOR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCOR and VXZ?
Over the past 3 years, PCOR and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.20) runs above the 3-year figure (-0.32). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -383.5 %².
Out of 21 assets tracked against PCOR, VXZ lands near the bottom at #19. The trailing year gives PCOR the advantage: -6.0% versus -16.1%, a 10.1-point spread. Note the risk asymmetry: PCOR runs 1.8 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.
PCOR vs VXZ: side by side
| PCOR (Procore Technologies, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.0% | -16.1% |
| 5-year return | -32.7% | -53.1% |
| Volatility (ann.) | 46.4% | 25.6% |
| Beta vs S&P 500 | 1.31 | -1.31 |
| Max drawdown (3Y) | -56.6% | -36.4% |
| Market cap | $9.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCOR | VXZ |
|---|---|---|
| 2022 | -41.0% | +0.5% |
| 2023 | +46.7% | -44.0% |
| 2024 | +8.2% | -12.7% |
| 2025 | -2.9% | +5.7% |
| 2026 | -12.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCOR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, PCOR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PCOR and VXZ?
As of 2026-08-27, the correlation of weekly returns between PCOR and VXZ is -0.32 over 3 years, -0.20 over 1 year and -0.39 over 5 years.
Is VXZ a good diversifier for PCOR?
Yes. With a correlation of -0.32, PCOR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/pcor-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pcor-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PCOR correlations · VXZ correlations
