ERAS vs VXX: Correlation
Erasca, Inc. (ERAS) 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 -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERAS and VXX?
Across a 3-year window, the weekly returns of ERAS and VXX correlate at -0.22, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.08) runs above the 3-year figure (-0.22). Stretching to 5 years gives -0.22, with an annualized covariance of -1319.9 %².
VXX is close to the least connected end of ERAS's tracked universe, ranking #12 of 14. Correlation aside, the last 12 months split them widely, with ERAS ahead by 1183.2 points (+1133.5% versus -49.7%). One caveat on sizing: ERAS is 1.6 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.
ERAS vs VXX: side by side
| ERAS (Erasca, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1133.5% | -49.7% |
| 5-year return | -17.1% | -95.6% |
| Volatility (ann.) | 99.2% | 60.9% |
| Beta vs S&P 500 | 1.88 | -3.31 |
| Max drawdown (3Y) | -67.7% | -83.3% |
| Market cap | $6.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERAS | VXX |
|---|---|---|
| 2022 | -72.3% | -23.8% |
| 2023 | -50.6% | -72.5% |
| 2024 | +17.8% | -26.2% |
| 2025 | +48.2% | -42.2% |
| 2026 | +423.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERAS and VXX 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 ERAS and VXX?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with 0.08 over the last year and -0.22 over 5 years.
Is VXX a good diversifier for ERAS?
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?
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/eras-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eras-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERAS correlations · VXX correlations
