ERO vs VXX: Correlation
Measured on weekly returns over the past three years, Ero Copper Corp. (ERO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERO and VXX?
Over the past 3 years, ERO and VXX moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.42) sits close to the 3-year figure. Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -1191.3 %².
VXX is close to the least connected end of ERO's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months ERO outperformed by 224.1 percentage points (+174.4% for ERO against -49.7% for VXX).
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.
ERO vs VXX: side by side
| ERO (Ero Copper Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +174.4% | -49.7% |
| 5-year return | +110.6% | -95.6% |
| Volatility (ann.) | 54.7% | 60.9% |
| Beta vs S&P 500 | 1.53 | -3.31 |
| Max drawdown (3Y) | -59.7% | -83.3% |
| Market cap | $4.2B | – |
| P/E (trailing) | 13.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ERO | VXX |
|---|---|---|
| 2022 | -10.1% | -23.8% |
| 2023 | +14.8% | -72.5% |
| 2024 | -14.6% | -26.2% |
| 2025 | +109.9% | -42.2% |
| 2026 | +40.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERO and VXX good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ERO and VXX?
As of 2026-08-27, the correlation of weekly returns between ERO and VXX is -0.36 over 3 years, -0.42 over 1 year and -0.30 over 5 years.
Is VXX a good diversifier for ERO?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/ero-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ero-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ERO correlations · VXX correlations
