VXX vs WDAY: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Workday, Inc. (WDAY) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WDAY?
Across a 3-year window, the weekly returns of VXX and WDAY correlate at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.06) than the 3-year average (-0.29). Stretching to 5 years gives -0.28, with an annualized covariance of -704.1 %².
By 3-year correlation, WDAY places #881 of the 2872 assets tracked against VXX. Their recent paths diverged sharply: over the last 12 months WDAY outperformed by 34.0 percentage points (-49.7% for VXX against -15.7% for WDAY). Risk is not evenly split, since VXX carries 1.5 times the volatility of the other side.
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.
VXX vs WDAY: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WDAY (Workday, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | -15.7% |
| 5-year return | -95.6% | -28.7% |
| Volatility (ann.) | 60.9% | 40.0% |
| Beta vs S&P 500 | -3.31 | 1.09 |
| Max drawdown (3Y) | -83.3% | -63.4% |
| Market cap | – | $47.8B |
| P/E (trailing) | – | 59.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | VXX | WDAY |
|---|---|---|
| 2022 | -23.8% | -38.7% |
| 2023 | -72.5% | +65.0% |
| 2024 | -26.2% | -6.5% |
| 2025 | -42.2% | -16.8% |
| 2026 | -31.6% | -9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WDAY good diversifiers for each other?
Yes. With a correlation of -0.29, VXX and WDAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and WDAY?
The VXX/WDAY correlation stands at -0.29 on a 3-year window (1 year: -0.06, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is WDAY a good diversifier for VXX?
Yes. With a correlation of -0.29, VXX and WDAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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/vxx-vs-wday.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxx-vs-wday/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · WDAY correlations
