AEVA vs VXX: Correlation
Measured on weekly returns over the past three years, Aeva Technologies, Inc. (AEVA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEVA and VXX?
Across a 3-year window, the weekly returns of AEVA and VXX correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.23) sits close to the 3-year figure. Stretching to 5 years gives -0.22, with an annualized covariance of -1841.1 %².
Among the 14 assets we track against AEVA, VXX sits near the bottom by co-movement, at rank #13. Their recent paths diverged sharply: over the last 12 months AEVA outperformed by 53.6 percentage points (+3.9% for AEVA against -49.7% for VXX). Note the risk asymmetry: AEVA runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AEVA vs VXX: side by side
| AEVA (Aeva Technologies, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.9% | -49.7% |
| 5-year return | -66.2% | -95.6% |
| Volatility (ann.) | 127.6% | 60.9% |
| Beta vs S&P 500 | 2.96 | -3.31 |
| Max drawdown (3Y) | -75.7% | -83.3% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEVA | VXX |
|---|---|---|
| 2022 | -82.0% | -23.8% |
| 2023 | -44.3% | -72.5% |
| 2024 | +25.3% | -26.2% |
| 2025 | +179.6% | -42.2% |
| 2026 | +23.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEVA and VXX good diversifiers for each other?
Yes. With a correlation of -0.24, AEVA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AEVA and VXX?
The AEVA/VXX correlation stands at -0.24 on a 3-year window (1 year: -0.23, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AEVA?
Yes. With a correlation of -0.24, AEVA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/aeva-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aeva-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AEVA correlations · VXX correlations
