EVEX vs VXX: Correlation
How closely do Eve Holding, Inc. (EVEX) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVEX and VXX?
Across a 3-year window, the weekly returns of EVEX and VXX correlate at -0.31, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.40) sits close to the 3-year figure. Stretching to 5 years gives -0.27, with an annualized covariance of -1135.4 %².
Among the 15 assets we track against EVEX, VXX sits near the bottom by co-movement, at rank #14. On 12-month performance EVEX holds a 8.9-point edge, -40.8% against -49.7%.
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.
EVEX vs VXX: side by side
| EVEX (Eve Holding, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -40.8% | -49.7% |
| 5-year return | -72.4% | -95.6% |
| Volatility (ann.) | 60.7% | 60.9% |
| Beta vs S&P 500 | 1.73 | -3.31 |
| Max drawdown (3Y) | -75.8% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVEX | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | +1.7% | -72.5% |
| 2024 | -25.7% | -26.2% |
| 2025 | -26.7% | -42.2% |
| 2026 | -40.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVEX and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between EVEX and VXX?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.40 over the last year and -0.27 over 5 years.
Is VXX a good diversifier for EVEX?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/evex-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evex-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVEX correlations · VXX correlations
