PGC vs VXX: Correlation
How closely do Peapack-Gl (PGC) 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 -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGC and VXX?
On 3 years of weekly data the PGC/VXX correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.15) than the 3-year average (-0.42). The 5-year figure is -0.39, and annualized covariance runs at -870.8 %².
Out of 12 assets tracked against PGC, VXX lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months PGC outperformed by 107.4 percentage points (+57.7% for PGC against -49.7% for VXX). Note the risk asymmetry: VXX 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.
PGC vs VXX: side by side
| PGC (Peapack-Gl) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +57.7% | -49.7% |
| 5-year return | +41.8% | -95.6% |
| Volatility (ann.) | 34.4% | 60.9% |
| Beta vs S&P 500 | 0.88 | -3.31 |
| Max drawdown (3Y) | -34.2% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | 15.7 | – |
| Dividend yield | 0.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PGC | VXX |
|---|---|---|
| 2022 | +5.7% | -23.8% |
| 2023 | -19.3% | -72.5% |
| 2024 | +8.3% | -26.2% |
| 2025 | -12.5% | -42.2% |
| 2026 | +62.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGC and VXX good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PGC and VXX?
The PGC/VXX correlation stands at -0.42 on a 3-year window (1 year: -0.15, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PGC?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
A reading of -0.42 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/pgc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pgc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PGC correlations · VXX correlations
