PI vs VXX: Correlation
Measured on weekly returns over the past three years, Impinj, Inc. (PI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.46, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PI and VXX?
On 3 years of weekly data the PI/VXX correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.44 over 1 year against -0.46 over 3. The 5-year figure is -0.45, and annualized covariance runs at -1971.2 %².
VXX is close to the least connected end of PI's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months PI outperformed by 39.9 percentage points (-9.8% for PI 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.
PI vs VXX: side by side
| PI (Impinj, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.8% | -49.7% |
| 5-year return | +187.5% | -95.6% |
| Volatility (ann.) | 70.0% | 60.9% |
| Beta vs S&P 500 | 2.30 | -3.31 |
| Max drawdown (3Y) | -73.8% | -83.3% |
| Market cap | $5.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PI | VXX |
|---|---|---|
| 2022 | +23.1% | -23.8% |
| 2023 | -17.5% | -72.5% |
| 2024 | +61.3% | -26.2% |
| 2025 | +19.8% | -42.2% |
| 2026 | -3.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PI and VXX good diversifiers for each other?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PI and VXX?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.44 over the last year and -0.45 over 5 years.
Is VXX a good diversifier for PI?
Yes: at -0.46, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.46 mean?
On the −1 to +1 scale, -0.46 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/pi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PI correlations · VXX correlations
