ESEA vs VXX: Correlation
How closely do Euroseas Ltd. (ESEA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESEA and VXX?
On 3 years of weekly data the ESEA/VXX correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.30 over 3. The 5-year figure is -0.26, and annualized covariance runs at -835.5 %².
VXX is close to the least connected end of ESEA's tracked universe, ranking #10 of 10. The last year tells two different stories: ESEA led by 78.4 percentage points, +28.7% for ESEA 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.
ESEA vs VXX: side by side
| ESEA (Euroseas Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.7% | -49.7% |
| 5-year return | +417.1% | -95.6% |
| Volatility (ann.) | 45.2% | 60.9% |
| Beta vs S&P 500 | 0.96 | -3.31 |
| Max drawdown (3Y) | -38.0% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 4.10% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESEA | VXX |
|---|---|---|
| 2022 | -21.0% | -23.8% |
| 2023 | +83.4% | -72.5% |
| 2024 | +23.6% | -26.2% |
| 2025 | +96.0% | -42.2% |
| 2026 | +43.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESEA and VXX good diversifiers for each other?
Yes. With a correlation of -0.30, ESEA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ESEA and VXX?
The ESEA/VXX correlation stands at -0.30 on a 3-year window (1 year: -0.28, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for ESEA?
Yes. With a correlation of -0.30, ESEA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/esea-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esea-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ESEA correlations · VXX correlations
