EFXT vs VXX: Correlation
How closely do Enerflex Ltd (EFXT) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFXT and VXX?
Across a 3-year window, the weekly returns of EFXT and VXX correlate at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.03 versus -0.26 over 3 years. Stretching to 5 years gives -0.25, with an annualized covariance of -698.5 %².
Out of 10 assets tracked against EFXT, VXX lands near the bottom at #10. The last year tells two different stories: EFXT led by 163.4 percentage points, +113.7% for EFXT against -49.7% for VXX.
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.
EFXT vs VXX: side by side
| EFXT (Enerflex Ltd) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +113.7% | -49.7% |
| 5-year return | +257.3% | -95.6% |
| Volatility (ann.) | 44.8% | 60.9% |
| Beta vs S&P 500 | 0.65 | -3.31 |
| Max drawdown (3Y) | -38.6% | -83.3% |
| Market cap | $2.5B | – |
| P/E (trailing) | 45.2 | – |
| Dividend yield | 0.61% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFXT | VXX |
|---|---|---|
| 2022 | +5.8% | -23.8% |
| 2023 | -25.1% | -72.5% |
| 2024 | +115.8% | -26.2% |
| 2025 | +56.2% | -42.2% |
| 2026 | +35.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFXT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between EFXT and VXX?
As of 2026-08-27, the correlation of weekly returns between EFXT and VXX is -0.26 over 3 years, -0.03 over 1 year and -0.25 over 5 years.
Is VXX a good diversifier for EFXT?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 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/efxt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/efxt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EFXT correlations · VXX correlations
