PPG vs VXX: Correlation
PPG Industries (PPG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPG and VXX?
On 3 years of weekly data the PPG/VXX correlation comes out at -0.46, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.34) runs above the 3-year figure (-0.46). The 5-year figure is -0.48, and annualized covariance runs at -718.2 %².
Out of 67 assets tracked against PPG, VXX lands near the bottom at #67. The last year tells two different stories: PPG led by 53.5 percentage points, +3.8% for PPG against -49.7% for VXX. One caveat on sizing: VXX is 2.4 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.
PPG vs VXX: side by side
| PPG (PPG Industries) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.8% | -49.7% |
| 5-year return | -22.0% | -95.6% |
| Volatility (ann.) | 25.5% | 60.9% |
| Beta vs S&P 500 | 0.90 | -3.31 |
| Max drawdown (3Y) | -37.4% | -83.3% |
| Market cap | $25.2B | – |
| P/E (trailing) | 16.4 | – |
| Dividend yield | 2.48% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | PPG | VXX |
|---|---|---|
| 2022 | -25.7% | -23.8% |
| 2023 | +21.2% | -72.5% |
| 2024 | -18.5% | -26.2% |
| 2025 | -12.0% | -42.2% |
| 2026 | +12.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PPG and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between PPG and VXX?
As of 2026-08-27, the correlation of weekly returns between PPG and VXX is -0.46 over 3 years, -0.34 over 1 year and -0.48 over 5 years.
Is VXX a good diversifier for PPG?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
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/ppg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ppg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PPG correlations · VXX correlations
