VXX vs ZGN: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Ermenegildo Zegna N.V. (ZGN) 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 ZGN?
Across a 3-year window, the weekly returns of VXX and ZGN correlate at -0.33, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. Stretching to 5 years gives -0.28, with an annualized covariance of -870.7 %².
Among the 2872 assets we track against VXX, ZGN ranks #1324 by 3-year correlation. The last year tells two different stories: ZGN led by 115.8 percentage points, -49.7% for VXX against +66.1% for ZGN.
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 ZGN: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | ZGN (Ermenegildo Zegna N.V.) | |
|---|---|---|
| 1-year return | -49.7% | +66.1% |
| 5-year return | -95.6% | +34.1% |
| Volatility (ann.) | 60.9% | 43.6% |
| Beta vs S&P 500 | -3.31 | 1.27 |
| Max drawdown (3Y) | -83.3% | -59.0% |
| Market cap | – | $3.7B |
| P/E (trailing) | – | 31.0 |
| Dividend yield | 0.00% | 0.87% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | ZGN |
|---|---|---|
| 2022 | -23.8% | +0.8% |
| 2023 | -72.5% | +11.5% |
| 2024 | -26.2% | -27.8% |
| 2025 | -42.2% | +26.0% |
| 2026 | -31.6% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and ZGN good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXX and ZGN?
As of 2026-08-27, the correlation of weekly returns between VXX and ZGN is -0.33 over 3 years, -0.33 over 1 year and -0.28 over 5 years.
Is ZGN a good diversifier for VXX?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
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-zgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-zgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · ZGN correlations
