PEGA vs VXZ: Correlation
How closely do Pegasystems Inc. (PEGA) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEGA and VXZ?
On 3 years of weekly data the PEGA/VXZ correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.28 over 3. The 5-year figure is -0.30, and annualized covariance runs at -356.5 %².
Out of 14 assets tracked against PEGA, VXZ lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 15.7 percentage points (-31.8% for PEGA against -16.1% for VXZ). One caveat on sizing: PEGA is 2.0 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.
PEGA vs VXZ: side by side
| PEGA (Pegasystems Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -31.8% | -16.1% |
| 5-year return | -47.4% | -53.1% |
| Volatility (ann.) | 50.2% | 25.6% |
| Beta vs S&P 500 | 1.28 | -1.31 |
| Max drawdown (3Y) | -60.9% | -36.4% |
| Market cap | $5.9B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.35% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PEGA | VXZ |
|---|---|---|
| 2022 | -69.3% | +0.5% |
| 2023 | +43.1% | -44.0% |
| 2024 | +91.0% | -12.7% |
| 2025 | +28.4% | +5.7% |
| 2026 | -39.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEGA and VXZ good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PEGA and VXZ?
The PEGA/VXZ correlation stands at -0.28 on a 3-year window (1 year: -0.34, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PEGA?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/pega-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pega-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PEGA correlations · VXZ correlations
