EML vs VXX: Correlation
Eastern Company (The) (EML) 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 EML and VXX?
On 3 years of weekly data the EML/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.25) runs above the 3-year figure (-0.37). The 5-year figure is -0.33, and annualized covariance runs at -897.4 %².
Out of 10 assets tracked against EML, VXX lands near the bottom at #9. Their recent paths diverged sharply: over the last 12 months EML outperformed by 61.6 percentage points (+11.9% for EML against -49.7% for VXX). One caveat on sizing: VXX is 1.5 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.
EML vs VXX: side by side
| EML (Eastern Company (The)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.9% | -49.7% |
| 5-year return | +6.9% | -95.6% |
| Volatility (ann.) | 39.5% | 60.9% |
| Beta vs S&P 500 | 0.99 | -3.31 |
| Max drawdown (3Y) | -47.0% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 19.8 | – |
| Dividend yield | 1.69% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EML | VXX |
|---|---|---|
| 2022 | -21.5% | -23.8% |
| 2023 | +16.8% | -72.5% |
| 2024 | +22.6% | -26.2% |
| 2025 | -24.4% | -42.2% |
| 2026 | +35.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EML and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EML and VXX?
The EML/VXX correlation stands at -0.37 on a 3-year window (1 year: -0.25, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EML?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
A reading of -0.37 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/eml-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eml-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EML correlations · VXX correlations
