ENPH vs VXX: Correlation
Measured on weekly returns over the past three years, Enphase Energy, Inc. (ENPH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENPH and VXX?
Over the past 3 years, ENPH and VXX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -1000.5 %².
Out of 12 assets tracked against ENPH, VXX lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with ENPH ahead by 54.2 points (+4.5% 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.
ENPH vs VXX: side by side
| ENPH (Enphase Energy, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.5% | -49.7% |
| 5-year return | -77.9% | -95.6% |
| Volatility (ann.) | 70.2% | 60.9% |
| Beta vs S&P 500 | 1.12 | -3.31 |
| Max drawdown (3Y) | -81.0% | -83.3% |
| Market cap | $5.2B | – |
| P/E (trailing) | 38.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENPH | VXX |
|---|---|---|
| 2022 | +44.8% | -23.8% |
| 2023 | -50.1% | -72.5% |
| 2024 | -48.0% | -26.2% |
| 2025 | -53.3% | -42.2% |
| 2026 | +22.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENPH and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between ENPH and VXX?
The ENPH/VXX correlation stands at -0.23 on a 3-year window (1 year: -0.21, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ENPH?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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/enph-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/enph-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENPH correlations · VXX correlations
