EEFT vs VXX: Correlation
How closely do Euronet Worldwide, Inc. (EEFT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EEFT and VXX?
Over the past 3 years, EEFT and VXX moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.38). Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -692.8 %².
Out of 14 assets tracked against EEFT, VXX lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with EEFT ahead by 22.7 points (-27.0% versus -49.7%). One caveat on sizing: VXX is 2.0 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.
EEFT vs VXX: side by side
| EEFT (Euronet Worldwide, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.0% | -49.7% |
| 5-year return | -48.7% | -95.6% |
| Volatility (ann.) | 30.1% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -45.3% | -83.3% |
| Market cap | $2.6B | – |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EEFT | VXX |
|---|---|---|
| 2022 | -20.8% | -23.8% |
| 2023 | +7.5% | -72.5% |
| 2024 | +1.3% | -26.2% |
| 2025 | -26.0% | -42.2% |
| 2026 | -10.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EEFT and VXX good diversifiers for each other?
Yes. With a correlation of -0.38, EEFT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EEFT and VXX?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.14 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for EEFT?
Yes. With a correlation of -0.38, EEFT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
A reading of -0.38 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/eeft-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eeft-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EEFT correlations · VXX correlations
