ESQ vs VXZ: Correlation
How closely do Esquire Financial Holdings, Inc. (ESQ) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESQ and VXZ?
Across a 3-year window, the weekly returns of ESQ and VXZ correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.27 over 3. Stretching to 5 years gives -0.32, with an annualized covariance of -205.0 %².
VXZ is close to the least connected end of ESQ's tracked universe, ranking #9 of 10. The last year tells two different stories: ESQ led by 30.6 percentage points, +14.5% for ESQ 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.
ESQ vs VXZ: side by side
| ESQ (Esquire Financial Holdings, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.5% | -16.1% |
| 5-year return | +359.7% | -53.1% |
| Volatility (ann.) | 29.3% | 25.6% |
| Beta vs S&P 500 | 0.60 | -1.31 |
| Max drawdown (3Y) | -20.7% | -36.4% |
| Market cap | $1.4B | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 0.67% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESQ | VXZ |
|---|---|---|
| 2022 | +38.3% | +0.5% |
| 2023 | +16.7% | -44.0% |
| 2024 | +60.9% | -12.7% |
| 2025 | +29.4% | +5.7% |
| 2026 | +12.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESQ and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between ESQ and VXZ?
The ESQ/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.25, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ESQ?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 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/esq-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esq-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ESQ correlations · VXZ correlations
