VXX vs ZDGE: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Zedge, Inc. (ZDGE) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and ZDGE?
Across a 3-year window, the weekly returns of VXX and ZDGE correlate at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Stretching to 5 years gives -0.26, with an annualized covariance of -1182.5 %².
By 3-year correlation, ZDGE places #433 of the 2872 assets tracked against VXX. Correlation aside, the last 12 months split them widely, with ZDGE ahead by 46.7 points (-49.7% versus -3.0%).
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 ZDGE: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | ZDGE (Zedge, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | -3.0% |
| 5-year return | -95.6% | -81.5% |
| Volatility (ann.) | 60.9% | 76.8% |
| Beta vs S&P 500 | -3.31 | 0.91 |
| Max drawdown (3Y) | -83.3% | -61.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.77% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | ZDGE |
|---|---|---|
| 2022 | -23.8% | -79.3% |
| 2023 | -72.5% | +33.5% |
| 2024 | -26.2% | +14.5% |
| 2025 | -42.2% | +22.5% |
| 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 ZDGE good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and ZDGE?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.20 over the last year and -0.26 over 5 years.
Is ZDGE a good diversifier for VXX?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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-zdge.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-zdge/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VXX correlations · ZDGE correlations
