EMBJ vs VXX: Correlation
Embraer S.A. (EMBJ) 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 -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMBJ and VXX?
Across a 3-year window, the weekly returns of EMBJ and VXX correlate at -0.37, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.55 versus -0.37 over 3 years. Stretching to 5 years gives -0.37, with an annualized covariance of -956.3 %².
Among the 10 assets we track against EMBJ, VXX sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months EMBJ outperformed by 85.3 percentage points (+35.6% for EMBJ 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.
EMBJ vs VXX: side by side
| EMBJ (Embraer S.A.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.6% | -49.7% |
| 5-year return | +327.0% | -95.6% |
| Volatility (ann.) | 41.9% | 60.9% |
| Beta vs S&P 500 | 0.91 | -3.31 |
| Max drawdown (3Y) | -32.6% | -83.3% |
| Market cap | $13.4B | – |
| P/E (trailing) | 30.5 | – |
| Dividend yield | 0.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMBJ | VXX |
|---|---|---|
| 2022 | -38.4% | -23.8% |
| 2023 | +68.8% | -72.5% |
| 2024 | +98.8% | -26.2% |
| 2025 | +75.7% | -42.2% |
| 2026 | +17.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMBJ and VXX good diversifiers for each other?
Yes. With a correlation of -0.37, EMBJ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EMBJ and VXX?
Using weekly returns as of 2026-08-27: -0.37 over 3 years, with -0.55 over the last year and -0.37 over 5 years.
Is VXX a good diversifier for EMBJ?
Yes. With a correlation of -0.37, EMBJ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 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/embj-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/embj-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EMBJ correlations · VXX correlations
