EP vs VXZ: Correlation
Empire Petroleum Corporation (EP) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EP and VXZ?
Across a 3-year window, the weekly returns of EP and VXZ correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.22). Stretching to 5 years gives -0.12, with an annualized covariance of -378.4 %².
Out of 10 assets tracked against EP, VXZ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with VXZ ahead by 16.8 points (-32.9% versus -16.1%). One caveat on sizing: EP is 2.6 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.
EP vs VXZ: side by side
| EP (Empire Petroleum Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -32.9% | -16.1% |
| 5-year return | -46.4% | -53.1% |
| Volatility (ann.) | 67.0% | 25.6% |
| Beta vs S&P 500 | 1.00 | -1.31 |
| Max drawdown (3Y) | -77.9% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EP | VXZ |
|---|---|---|
| 2022 | +1.9% | +0.5% |
| 2023 | -10.7% | -44.0% |
| 2024 | -30.8% | -12.7% |
| 2025 | -60.0% | +5.7% |
| 2026 | +7.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EP and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between EP and VXZ?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.08 over the last year and -0.12 over 5 years.
Is VXZ a good diversifier for EP?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/ep-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ep-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EP correlations · VXZ correlations
