PYPL vs VXX: Correlation
How closely do PayPal (PYPL) 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 -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PYPL and VXX?
On 3 years of weekly data the PYPL/VXX correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.07 versus -0.32 over 3 years. The 5-year figure is -0.30, and annualized covariance runs at -715.9 %².
VXX is close to the least connected end of PYPL's tracked universe, ranking #26 of 28. The last year tells two different stories: PYPL led by 38.7 percentage points, -11.0% for PYPL against -49.7% for VXX. One caveat on sizing: VXX is 1.6 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.
PYPL vs VXX: side by side
| PYPL (PayPal) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -11.0% | -49.7% |
| 5-year return | -78.5% | -95.6% |
| Volatility (ann.) | 37.1% | 60.9% |
| Beta vs S&P 500 | 1.15 | -3.31 |
| Max drawdown (3Y) | -57.3% | -83.3% |
| Market cap | $52.6B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.91% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PYPL | VXX |
|---|---|---|
| 2022 | -62.2% | -23.8% |
| 2023 | -13.8% | -72.5% |
| 2024 | +39.0% | -26.2% |
| 2025 | -31.4% | -42.2% |
| 2026 | +6.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PYPL and VXX good diversifiers for each other?
Yes. With a correlation of -0.32, PYPL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PYPL and VXX?
As of 2026-08-27, the correlation of weekly returns between PYPL and VXX is -0.32 over 3 years, -0.07 over 1 year and -0.30 over 5 years.
Is VXX a good diversifier for PYPL?
Yes. With a correlation of -0.32, PYPL and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/pypl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pypl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PYPL correlations · VXX correlations
