EMN vs VXX: Correlation
Eastman Chemical Company (EMN) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMN and VXX?
Over the past 3 years, EMN and VXX moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -774.9 %².
Out of 22 assets tracked against EMN, VXX lands near the bottom at #22. The last year tells two different stories: EMN led by 60.5 percentage points, +10.8% for EMN against -49.7% for VXX. One caveat on sizing: VXX is 2.0 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.
EMN vs VXX: side by side
| EMN (Eastman Chemical Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.8% | -49.7% |
| 5-year return | -22.9% | -95.6% |
| Volatility (ann.) | 30.5% | 60.9% |
| Beta vs S&P 500 | 0.95 | -3.31 |
| Max drawdown (3Y) | -48.4% | -83.3% |
| Market cap | $8.3B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 4.59% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMN | VXX |
|---|---|---|
| 2022 | -30.4% | -23.8% |
| 2023 | +14.7% | -72.5% |
| 2024 | +5.1% | -26.2% |
| 2025 | -26.9% | -42.2% |
| 2026 | +16.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMN and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, EMN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EMN and VXX?
As of 2026-08-27, the correlation of weekly returns between EMN and VXX is -0.42 over 3 years, -0.32 over 1 year and -0.44 over 5 years.
Is VXX a good diversifier for EMN?
Yes. With a correlation of -0.42, EMN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
A reading of -0.42 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/emn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/emn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EMN correlations · VXX correlations
