ESCA vs VXZ: Correlation
Escalade, Incorporated (ESCA) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESCA and VXZ?
On 3 years of weekly data the ESCA/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.00) than the 3-year average (-0.31). The 5-year figure is -0.32, and annualized covariance runs at -292.5 %².
VXZ is close to the least connected end of ESCA's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months ESCA outperformed by 78.3 percentage points (+62.2% for ESCA against -16.1% for VXZ).
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.
ESCA vs VXZ: side by side
| ESCA (Escalade, Incorporated) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +62.2% | -16.1% |
| 5-year return | +6.6% | -53.1% |
| Volatility (ann.) | 36.5% | 25.6% |
| Beta vs S&P 500 | 0.59 | -1.31 |
| Max drawdown (3Y) | -42.7% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 3.03% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESCA | VXZ |
|---|---|---|
| 2022 | -32.2% | +0.5% |
| 2023 | +104.0% | -44.0% |
| 2024 | -25.9% | -12.7% |
| 2025 | -1.5% | +5.7% |
| 2026 | +52.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESCA and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, ESCA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ESCA and VXZ?
The ESCA/VXZ correlation stands at -0.31 on a 3-year window (1 year: 0.00, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ESCA?
Yes. With a correlation of -0.31, ESCA and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/esca-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esca-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ESCA correlations · VXZ correlations
