EBF vs VXX: Correlation
Ennis, Inc. (EBF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBF and VXX?
Over the past 3 years, EBF and VXX moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.03) than the 3-year average (-0.32). Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -353.3 %².
VXX is close to the least connected end of EBF's tracked universe, ranking #10 of 11. The last year tells two different stories: EBF led by 71.8 percentage points, +22.1% for EBF against -49.7% for VXX. One caveat on sizing: VXX is 3.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EBF vs VXX: side by side
| EBF (Ennis, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +22.1% | -49.7% |
| 5-year return | +57.8% | -95.6% |
| Volatility (ann.) | 18.2% | 60.9% |
| Beta vs S&P 500 | 0.29 | -3.31 |
| Max drawdown (3Y) | -22.8% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 4.66% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EBF | VXX |
|---|---|---|
| 2022 | +19.4% | -23.8% |
| 2023 | +3.6% | -72.5% |
| 2024 | +12.6% | -26.2% |
| 2025 | -10.0% | -42.2% |
| 2026 | +23.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBF and VXX good diversifiers for each other?
Yes. With a correlation of -0.32, EBF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EBF and VXX?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with 0.03 over the last year and -0.31 over 5 years.
Is VXX a good diversifier for EBF?
Yes. With a correlation of -0.32, EBF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ebf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ebf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EBF correlations · VXX correlations
