ENS vs VXX: Correlation
How closely do EnerSys (ENS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENS and VXX?
On 3 years of weekly data the ENS/VXX correlation comes out at -0.45, 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 -0.45 over 3 years. The 5-year figure is -0.43, and annualized covariance runs at -818.9 %².
VXX is close to the least connected end of ENS's tracked universe, ranking #11 of 11. The last year tells two different stories: ENS led by 137.6 percentage points, +87.9% for ENS 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.
ENS vs VXX: side by side
| ENS (EnerSys) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +87.9% | -49.7% |
| 5-year return | +131.9% | -95.6% |
| Volatility (ann.) | 30.1% | 60.9% |
| Beta vs S&P 500 | 1.09 | -3.31 |
| Max drawdown (3Y) | -28.2% | -83.3% |
| Market cap | $6.9B | – |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.54% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENS | VXX |
|---|---|---|
| 2022 | -5.6% | -23.8% |
| 2023 | +37.9% | -72.5% |
| 2024 | -7.6% | -26.2% |
| 2025 | +60.3% | -42.2% |
| 2026 | +30.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENS and VXX good diversifiers for each other?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ENS and VXX?
Using weekly returns as of 2026-08-27: -0.45 over 3 years, with -0.23 over the last year and -0.43 over 5 years.
Is VXX a good diversifier for ENS?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.45 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/ens-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ens-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENS correlations · VXX correlations
