PDYN vs VXZ: Correlation
Measured on weekly returns over the past three years, Palladyne AI Corp. (PDYN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDYN and VXZ?
Across a 3-year window, the weekly returns of PDYN and VXZ correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.23 over 3. Stretching to 5 years gives -0.23, with an annualized covariance of -1187.4 %².
Among the 17 assets we track against PDYN, VXZ sits near the bottom by co-movement, at rank #17. Over the last 12 months VXZ came out ahead by 5.8 percentage points (-21.9% against -16.1%). Risk is not evenly split, since PDYN carries 8.0 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.
PDYN vs VXZ: side by side
| PDYN (Palladyne AI Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -21.9% | -16.1% |
| 5-year return | -88.8% | -53.1% |
| Volatility (ann.) | 204.5% | 25.6% |
| Beta vs S&P 500 | 3.45 | -1.31 |
| Max drawdown (3Y) | -68.8% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PDYN | VXZ |
|---|---|---|
| 2022 | -94.4% | +0.5% |
| 2023 | -78.6% | -44.0% |
| 2024 | +1601.8% | -12.7% |
| 2025 | -65.3% | +5.7% |
| 2026 | +43.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDYN and VXZ good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PDYN and VXZ?
The PDYN/VXZ correlation stands at -0.23 on a 3-year window (1 year: -0.27, 5 years: -0.23), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PDYN?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pdyn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pdyn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PDYN correlations · VXZ correlations
