ENVA vs VXX: Correlation
Enova International, Inc. (ENVA) 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 -0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENVA and VXX?
Across a 3-year window, the weekly returns of ENVA and VXX correlate at -0.47, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.38) sits close to the 3-year figure. Stretching to 5 years gives -0.42, with an annualized covariance of -1158.8 %².
VXX is close to the least connected end of ENVA's tracked universe, ranking #15 of 16. Correlation aside, the last 12 months split them widely, with ENVA ahead by 147.8 points (+98.1% versus -49.7%). Note the risk asymmetry: VXX runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ENVA vs VXX: side by side
| ENVA (Enova International, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +98.1% | -49.7% |
| 5-year return | +622.4% | -95.6% |
| Volatility (ann.) | 40.6% | 60.9% |
| Beta vs S&P 500 | 1.27 | -3.31 |
| Max drawdown (3Y) | -30.0% | -83.3% |
| Market cap | $5.9B | – |
| P/E (trailing) | 17.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENVA | VXX |
|---|---|---|
| 2022 | -6.3% | -23.8% |
| 2023 | +44.3% | -72.5% |
| 2024 | +73.2% | -26.2% |
| 2025 | +64.0% | -42.2% |
| 2026 | +51.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENVA and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between ENVA and VXX?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.38 over the last year and -0.42 over 5 years.
Is VXX a good diversifier for ENVA?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/enva-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/enva-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENVA correlations · VXX correlations
