EH vs VXX: Correlation
EHang Holdings Limited (EH) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EH and VXX?
Across a 3-year window, the weekly returns of EH and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.44) sits close to the 3-year figure. Stretching to 5 years gives -0.34, with an annualized covariance of -1561.1 %².
Out of 11 assets tracked against EH, VXX lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months VXX outperformed by 21.0 percentage points (-70.7% for EH 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.
EH vs VXX: side by side
| EH (EHang Holdings Limited) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -70.7% | -49.7% |
| 5-year return | -81.9% | -95.6% |
| Volatility (ann.) | 72.3% | 60.9% |
| Beta vs S&P 500 | 1.92 | -3.31 |
| Max drawdown (3Y) | -82.4% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EH | VXX |
|---|---|---|
| 2022 | -42.5% | -23.8% |
| 2023 | +95.8% | -72.5% |
| 2024 | -6.3% | -26.2% |
| 2025 | -16.3% | -42.2% |
| 2026 | -64.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EH and VXX good diversifiers for each other?
Yes. With a correlation of -0.35, EH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EH and VXX?
The EH/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.44, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EH?
Yes. With a correlation of -0.35, EH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
A reading of -0.35 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/eh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EH correlations · VXX correlations
