VEEV vs VXX: Correlation
How closely do Veeva Systems (VEEV) 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 -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VEEV and VXX?
Over the past 3 years, VEEV and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.15) than the 3-year average (-0.27). Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -668.5 %².
Out of 34 assets tracked against VEEV, VXX lands near the bottom at #33. Their recent paths diverged sharply: over the last 12 months VEEV outperformed by 45.8 percentage points (-3.9% for VEEV against -49.7% for VXX). One caveat on sizing: VXX is 1.5 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.
VEEV vs VXX: side by side
| VEEV (Veeva Systems) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.9% | -49.7% |
| 5-year return | -15.2% | -95.6% |
| Volatility (ann.) | 40.0% | 60.9% |
| Beta vs S&P 500 | 0.99 | -3.31 |
| Max drawdown (3Y) | -50.5% | -83.3% |
| Market cap | $45.8B | – |
| P/E (trailing) | 46.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | VEEV | VXX |
|---|---|---|
| 2022 | -36.8% | -23.8% |
| 2023 | +19.3% | -72.5% |
| 2024 | +9.2% | -26.2% |
| 2025 | +6.2% | -42.2% |
| 2026 | +26.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VEEV and VXX good diversifiers for each other?
Yes. With a correlation of -0.27, VEEV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VEEV and VXX?
As of 2026-08-27, the correlation of weekly returns between VEEV and VXX is -0.27 over 3 years, -0.15 over 1 year and -0.34 over 5 years.
Is VXX a good diversifier for VEEV?
Yes. With a correlation of -0.27, VEEV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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/veev-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/veev-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VEEV correlations · VXX correlations
