VXX vs XGN: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Exagen Inc. (XGN) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and XGN?
Over the past 3 years, VXX and XGN moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.36) than the 3-year average (-0.22). Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -1180.8 %².
Within VXX's tracked universe of 2872 assets, XGN comes in at #160 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months XGN outperformed by 28.4 percentage points (-49.7% for VXX against -21.3% for XGN).
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 XGN: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | XGN (Exagen Inc.) | |
|---|---|---|
| 1-year return | -49.7% | -21.3% |
| 5-year return | -95.6% | -47.1% |
| Volatility (ann.) | 60.9% | 88.9% |
| Beta vs S&P 500 | -3.31 | 1.41 |
| Max drawdown (3Y) | -83.3% | -77.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | XGN |
|---|---|---|
| 2022 | -23.8% | -79.4% |
| 2023 | -72.5% | -17.1% |
| 2024 | -26.2% | +106.0% |
| 2025 | -42.2% | +48.3% |
| 2026 | -31.6% | +23.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and XGN good diversifiers for each other?
Yes. With a correlation of -0.22, VXX and XGN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and XGN?
The VXX/XGN correlation stands at -0.22 on a 3-year window (1 year: -0.36, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is XGN a good diversifier for VXX?
Yes. With a correlation of -0.22, VXX and XGN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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-xgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-xgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · XGN correlations
