ETON vs VXX: Correlation
How closely do Eton Pharmaceuticals, Inc. (ETON) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETON and VXX?
On 3 years of weekly data the ETON/VXX correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.08) than the 3-year average (-0.25). The 5-year figure is -0.22, and annualized covariance runs at -876.2 %².
VXX is close to the least connected end of ETON's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months ETON outperformed by 312.4 percentage points (+262.7% for ETON 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.
ETON vs VXX: side by side
| ETON (Eton Pharmaceuticals, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +262.7% | -49.7% |
| 5-year return | +1112.2% | -95.6% |
| Volatility (ann.) | 58.4% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -45.6% | -83.3% |
| Market cap | $1.8B | – |
| P/E (trailing) | 160.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETON | VXX |
|---|---|---|
| 2022 | -34.3% | -23.8% |
| 2023 | +55.3% | -72.5% |
| 2024 | +204.1% | -26.2% |
| 2025 | +27.0% | -42.2% |
| 2026 | +270.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETON and VXX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ETON and VXX?
As of 2026-08-27, the correlation of weekly returns between ETON and VXX is -0.25 over 3 years, -0.08 over 1 year and -0.22 over 5 years.
Is VXX a good diversifier for ETON?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/eton-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eton-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ETON correlations · VXX correlations
