EFSI vs VXZ: Correlation
Eagle Financial Services Inc (EFSI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFSI and VXZ?
On 3 years of weekly data the EFSI/VXZ correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.22). The 5-year figure is -0.13, and annualized covariance runs at -112.2 %².
Out of 11 assets tracked against EFSI, VXZ lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with EFSI ahead by 33.7 points (+17.6% versus -16.1%).
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.
EFSI vs VXZ: side by side
| EFSI (Eagle Financial Services Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.6% | -16.1% |
| 5-year return | +46.3% | -53.1% |
| Volatility (ann.) | 20.3% | 25.6% |
| Beta vs S&P 500 | 0.30 | -1.31 |
| Max drawdown (3Y) | -21.2% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 11.8 | – |
| Dividend yield | 2.97% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFSI | VXZ |
|---|---|---|
| 2022 | +8.0% | +0.5% |
| 2023 | -13.4% | -44.0% |
| 2024 | +26.2% | -12.7% |
| 2025 | +13.4% | +5.7% |
| 2026 | +7.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFSI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.22, EFSI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EFSI and VXZ?
The EFSI/VXZ correlation stands at -0.22 on a 3-year window (1 year: -0.42, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for EFSI?
Yes. With a correlation of -0.22, EFSI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/efsi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/efsi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EFSI correlations · VXZ correlations
