ENOV vs VXX: Correlation
Measured on weekly returns over the past three years, Enovis Corporation (ENOV) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENOV and VXX?
On 3 years of weekly data the ENOV/VXX correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.23 versus -0.40 over 3 years. The 5-year figure is -0.44, and annualized covariance runs at -1015.2 %².
VXX is close to the least connected end of ENOV's tracked universe, ranking #14 of 14. Correlation aside, the last 12 months split them widely, with ENOV ahead by 29.7 points (-20.0% versus -49.7%).
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.
ENOV vs VXX: side by side
| ENOV (Enovis Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -20.0% | -49.7% |
| 5-year return | -70.1% | -95.6% |
| Volatility (ann.) | 41.2% | 60.9% |
| Beta vs S&P 500 | 1.30 | -3.31 |
| Max drawdown (3Y) | -68.6% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENOV | VXX |
|---|---|---|
| 2022 | -32.4% | -23.8% |
| 2023 | +4.7% | -72.5% |
| 2024 | -21.7% | -26.2% |
| 2025 | -39.3% | -42.2% |
| 2026 | -6.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENOV and VXX good diversifiers for each other?
Yes. With a correlation of -0.40, ENOV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ENOV and VXX?
The ENOV/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.23, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ENOV?
Yes. With a correlation of -0.40, ENOV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 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/enov-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/enov-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENOV correlations · VXX correlations
