PYPL vs VXZ: Correlation
How closely do PayPal (PYPL) 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 -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PYPL and VXZ?
On 3 years of weekly data the PYPL/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.13) runs above the 3-year figure (-0.34). The 5-year figure is -0.36, and annualized covariance runs at -320.0 %².
Out of 28 assets tracked against PYPL, VXZ lands near the bottom at #27. Over the last 12 months PYPL came out ahead by 5.1 percentage points (-11.0% against -16.1%).
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 VXZ: side by side
| PYPL (PayPal) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -11.0% | -16.1% |
| 5-year return | -78.5% | -53.1% |
| Volatility (ann.) | 37.1% | 25.6% |
| Beta vs S&P 500 | 1.15 | -1.31 |
| Max drawdown (3Y) | -57.3% | -36.4% |
| Market cap | $52.6B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.91% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | PYPL | VXZ |
|---|---|---|
| 2022 | -62.2% | +0.5% |
| 2023 | -13.8% | -44.0% |
| 2024 | +39.0% | -12.7% |
| 2025 | -31.4% | +5.7% |
| 2026 | +6.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PYPL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.34, PYPL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PYPL and VXZ?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.13 over the last year and -0.36 over 5 years.
Is VXZ a good diversifier for PYPL?
Yes. With a correlation of -0.34, PYPL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pypl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pypl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PYPL correlations · VXZ correlations
