ESP vs VXX: Correlation
Espey Mfg. & Electronics Corp. (ESP) 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 -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESP and VXX?
On 3 years of weekly data the ESP/VXX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. The 5-year figure is -0.19, and annualized covariance runs at -595.0 %².
Out of 10 assets tracked against ESP, VXX lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months ESP outperformed by 89.4 percentage points (+39.7% for ESP 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.
ESP vs VXX: side by side
| ESP (Espey Mfg. & Electronics Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +39.7% | -49.7% |
| 5-year return | +393.3% | -95.6% |
| Volatility (ann.) | 42.3% | 60.9% |
| Beta vs S&P 500 | 0.97 | -3.31 |
| Max drawdown (3Y) | -29.1% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 16.6 | – |
| Dividend yield | 2.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESP | VXX |
|---|---|---|
| 2022 | -0.1% | -23.8% |
| 2023 | +35.5% | -72.5% |
| 2024 | +66.8% | -26.2% |
| 2025 | +63.3% | -42.2% |
| 2026 | +35.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESP and VXX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ESP and VXX?
As of 2026-08-27, the correlation of weekly returns between ESP and VXX is -0.23 over 3 years, -0.20 over 1 year and -0.19 over 5 years.
Is VXX a good diversifier for ESP?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/esp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ESP correlations · VXX correlations
