PD vs VXX: Correlation
How closely do PagerDuty, Inc. (PD) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PD and VXX?
On 3 years of weekly data the PD/VXX correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.34). The 5-year figure is -0.32, and annualized covariance runs at -1089.7 %².
Out of 17 assets tracked against PD, VXX lands near the bottom at #15. The last year tells two different stories: PD led by 24.2 percentage points, -25.5% for PD 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.
PD vs VXX: side by side
| PD (PagerDuty, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -25.5% | -49.7% |
| 5-year return | -70.4% | -95.6% |
| Volatility (ann.) | 52.9% | 60.9% |
| Beta vs S&P 500 | 1.44 | -3.31 |
| Max drawdown (3Y) | -78.4% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | 5.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PD | VXX |
|---|---|---|
| 2022 | -23.6% | -23.8% |
| 2023 | -12.8% | -72.5% |
| 2024 | -21.1% | -26.2% |
| 2025 | -28.2% | -42.2% |
| 2026 | -3.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PD and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between PD and VXX?
The PD/VXX correlation stands at -0.34 on a 3-year window (1 year: -0.09, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PD?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/pd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pd-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PD correlations · VXX correlations
