VXX vs WK: Correlation
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Workiva Inc. (WK) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WK?
Across a 3-year window, the weekly returns of VXX and WK correlate at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.27). Stretching to 5 years gives -0.27, with an annualized covariance of -655.7 %².
Within VXX's tracked universe of 2872 assets, WK comes in at #636 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WK ahead by 46.3 points (-49.7% versus -3.4%). 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.
VXX vs WK: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WK (Workiva Inc.) | |
|---|---|---|
| 1-year return | -49.7% | -3.4% |
| 5-year return | -95.6% | -46.1% |
| Volatility (ann.) | 60.9% | 40.0% |
| Beta vs S&P 500 | -3.31 | 0.72 |
| Max drawdown (3Y) | -83.3% | -61.4% |
| Market cap | – | $4.2B |
| P/E (trailing) | – | 92.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WK |
|---|---|---|
| 2022 | -23.8% | -35.7% |
| 2023 | -72.5% | +20.9% |
| 2024 | -26.2% | +7.8% |
| 2025 | -42.2% | -21.2% |
| 2026 | -31.6% | -10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WK good diversifiers for each other?
Yes. With a correlation of -0.27, VXX and WK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and WK?
The VXX/WK correlation stands at -0.27 on a 3-year window (1 year: -0.09, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is WK a good diversifier for VXX?
Yes. With a correlation of -0.27, VXX and WK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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-wk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxx-vs-wk/)
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Related comparisons
Hubs: VXX correlations · WK correlations
