EDRY vs VXX: Correlation
Measured on weekly returns over the past three years, EuroDry Ltd. (EDRY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDRY and VXX?
Across a 3-year window, the weekly returns of EDRY and VXX correlate at -0.21, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.13 over 1 year against -0.21 over 3. Stretching to 5 years gives -0.12, with an annualized covariance of -637.1 %².
Among the 11 assets we track against EDRY, VXX sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with EDRY ahead by 414.4 points (+364.7% versus -49.7%).
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.
EDRY vs VXX: side by side
| EDRY (EuroDry Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +364.7% | -49.7% |
| 5-year return | +66.1% | -95.6% |
| Volatility (ann.) | 50.8% | 60.9% |
| Beta vs S&P 500 | 0.68 | -3.31 |
| Max drawdown (3Y) | -67.8% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 14.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDRY | VXX |
|---|---|---|
| 2022 | -9.7% | -23.8% |
| 2023 | +10.9% | -72.5% |
| 2024 | -41.2% | -26.2% |
| 2025 | +14.6% | -42.2% |
| 2026 | +284.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDRY and VXX good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EDRY and VXX?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.13 over the last year and -0.12 over 5 years.
Is VXX a good diversifier for EDRY?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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/edry-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/edry-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EDRY correlations · VXX correlations
