VXX vs WEAV: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Weave Communications, Inc. (WEAV) carry a correlation of -0.33, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WEAV?
Across a 3-year window, the weekly returns of VXX and WEAV correlate at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.18 versus -0.33 over 3 years. Stretching to 5 years gives -0.31, with an annualized covariance of -1186.7 %².
Among the 2872 assets we track against VXX, WEAV ranks #1319 by 3-year correlation. The last year tells two different stories: WEAV led by 43.9 percentage points, -49.7% for VXX against -5.8% for WEAV.
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 WEAV: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WEAV (Weave Communications, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | -5.8% |
| 5-year return | -95.6% | -61.1% |
| Volatility (ann.) | 60.9% | 58.9% |
| Beta vs S&P 500 | -3.31 | 1.62 |
| Max drawdown (3Y) | -83.3% | -74.9% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WEAV |
|---|---|---|
| 2022 | -23.8% | -69.8% |
| 2023 | -72.5% | +150.4% |
| 2024 | -26.2% | +38.8% |
| 2025 | -42.2% | -52.3% |
| 2026 | -31.6% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WEAV good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXX and WEAV?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.18 over the last year and -0.31 over 5 years.
Is WEAV a good diversifier for VXX?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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-weav.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxx-vs-weav/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VXX correlations · WEAV correlations
