UPLD vs VXX: Correlation
How closely do Upland Software, Inc. (UPLD) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UPLD and VXX?
Across a 3-year window, the weekly returns of UPLD and VXX correlate at -0.28, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Stretching to 5 years gives -0.30, with an annualized covariance of -1611.6 %².
VXX is close to the least connected end of UPLD's tracked universe, ranking #8 of 10. Correlation aside, the last 12 months split them widely, with VXX ahead by 33.8 points (-83.5% versus -49.7%). One caveat on sizing: UPLD 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.
UPLD vs VXX: side by side
| UPLD (Upland Software, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -83.5% | -49.7% |
| 5-year return | -98.8% | -95.6% |
| Volatility (ann.) | 95.6% | 60.9% |
| Beta vs S&P 500 | 2.34 | -3.31 |
| Max drawdown (3Y) | -92.4% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UPLD | VXX |
|---|---|---|
| 2022 | -60.3% | -23.8% |
| 2023 | -40.7% | -72.5% |
| 2024 | +2.6% | -26.2% |
| 2025 | -67.1% | -42.2% |
| 2026 | -67.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UPLD and VXX good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between UPLD and VXX?
As of 2026-08-27, the correlation of weekly returns between UPLD and VXX is -0.28 over 3 years, -0.29 over 1 year and -0.30 over 5 years.
Is VXX a good diversifier for UPLD?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
A reading of -0.28 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/upld-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/upld-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: UPLD correlations · VXX correlations
