PDS vs VXX: Correlation
How closely do Precision Drilling Corporation (PDS) 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 -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDS and VXX?
Over the past 3 years, PDS and VXX moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.04) than the 3-year average (-0.24). Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -548.7 %².
Out of 13 assets tracked against PDS, VXX lands near the bottom at #13. The last year tells two different stories: PDS led by 108.0 percentage points, +58.3% for PDS against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.6 times the volatility of the other side.
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.
PDS vs VXX: side by side
| PDS (Precision Drilling Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +58.3% | -49.7% |
| 5-year return | +182.9% | -95.6% |
| Volatility (ann.) | 37.7% | 60.9% |
| Beta vs S&P 500 | 0.49 | -3.31 |
| Max drawdown (3Y) | -50.5% | -83.3% |
| Market cap | $1.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PDS | VXX |
|---|---|---|
| 2022 | +116.5% | -23.8% |
| 2023 | -29.2% | -72.5% |
| 2024 | +12.5% | -26.2% |
| 2025 | +17.7% | -42.2% |
| 2026 | +25.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDS and VXX good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PDS and VXX?
As of 2026-08-27, the correlation of weekly returns between PDS and VXX is -0.24 over 3 years, 0.04 over 1 year and -0.26 over 5 years.
Is VXX a good diversifier for PDS?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/pds-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pds-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PDS correlations · VXX correlations
