EVI vs VXX: Correlation
EVI Industries, Inc. (EVI) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EVI and VXX?
Over the past 3 years, EVI and VXX moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.17) than the 3-year average (-0.29). Over 5 years the correlation is -0.21, and the annualized covariance of weekly returns is -886.7 %².
Among the 12 assets we track against EVI, VXX sits near the bottom by co-movement, at rank #12. Twelve-month performance is nearly a tie, at -46.0% for EVI and -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.
EVI vs VXX: side by side
| EVI (EVI Industries, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -46.0% | -49.7% |
| 5-year return | -38.2% | -95.6% |
| Volatility (ann.) | 50.2% | 60.9% |
| Beta vs S&P 500 | 1.05 | -3.31 |
| Max drawdown (3Y) | -59.0% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 32.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EVI | VXX |
|---|---|---|
| 2022 | -23.6% | -23.8% |
| 2023 | +0.5% | -72.5% |
| 2024 | -30.0% | -26.2% |
| 2025 | +52.2% | -42.2% |
| 2026 | -40.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EVI and VXX good diversifiers for each other?
Yes. With a correlation of -0.29, EVI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EVI and VXX?
As of 2026-08-27, the correlation of weekly returns between EVI and VXX is -0.29 over 3 years, -0.17 over 1 year and -0.21 over 5 years.
Is VXX a good diversifier for EVI?
Yes. With a correlation of -0.29, EVI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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/evi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/evi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EVI correlations · VXX correlations
