ESQ vs VXX: Correlation
Esquire Financial Holdings, Inc. (ESQ) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESQ and VXX?
Across a 3-year window, the weekly returns of ESQ and VXX correlate at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.26 over 3. Stretching to 5 years gives -0.27, with an annualized covariance of -457.3 %².
Among the 10 assets we track against ESQ, VXX sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with ESQ ahead by 64.2 points (+14.5% versus -49.7%). Note the risk asymmetry: VXX runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ESQ vs VXX: side by side
| ESQ (Esquire Financial Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.5% | -49.7% |
| 5-year return | +359.7% | -95.6% |
| Volatility (ann.) | 29.3% | 60.9% |
| Beta vs S&P 500 | 0.60 | -3.31 |
| Max drawdown (3Y) | -20.7% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 0.67% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESQ | VXX |
|---|---|---|
| 2022 | +38.3% | -23.8% |
| 2023 | +16.7% | -72.5% |
| 2024 | +60.9% | -26.2% |
| 2025 | +29.4% | -42.2% |
| 2026 | +12.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESQ and VXX good diversifiers for each other?
Yes. With a correlation of -0.26, ESQ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ESQ and VXX?
As of 2026-08-27, the correlation of weekly returns between ESQ and VXX is -0.26 over 3 years, -0.21 over 1 year and -0.27 over 5 years.
Is VXX a good diversifier for ESQ?
Yes. With a correlation of -0.26, ESQ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/esq-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esq-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ESQ correlations · VXX correlations
