AFYA vs VXX: Correlation
Measured on weekly returns over the past three years, Afya Limited - Class A (AFYA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) 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 AFYA and VXX?
Over the past 3 years, AFYA and VXX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.25). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -465.1 %².
Out of 10 assets tracked against AFYA, VXX lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months AFYA outperformed by 48.7 percentage points (-1.0% for AFYA against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.0 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.
AFYA vs VXX: side by side
| AFYA (Afya Limited - Class A) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.0% | -49.7% |
| 5-year return | -27.6% | -95.6% |
| Volatility (ann.) | 30.2% | 60.9% |
| Beta vs S&P 500 | 0.56 | -3.31 |
| Max drawdown (3Y) | -40.4% | -83.3% |
| Market cap | $1.3B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 23.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFYA | VXX |
|---|---|---|
| 2022 | -0.6% | -23.8% |
| 2023 | +40.4% | -72.5% |
| 2024 | -27.6% | -26.2% |
| 2025 | -1.7% | -42.2% |
| 2026 | -3.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFYA and VXX good diversifiers for each other?
Yes. With a correlation of -0.25, AFYA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AFYA and VXX?
The AFYA/VXX correlation stands at -0.25 on a 3-year window (1 year: -0.13, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AFYA?
Yes. With a correlation of -0.25, AFYA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/afya-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afya-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFYA correlations · VXX correlations
