EW vs VXX: Correlation
Edwards Lifesciences (EW) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EW and VXX?
Across a 3-year window, the weekly returns of EW and VXX correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.30 over 3. Stretching to 5 years gives -0.34, with an annualized covariance of -575.8 %².
Out of 30 assets tracked against EW, VXX lands near the bottom at #28. Correlation aside, the last 12 months split them widely, with EW ahead by 60.9 points (+11.2% versus -49.7%). One caveat on sizing: VXX is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
EW vs VXX: side by side
| EW (Edwards Lifesciences) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.2% | -49.7% |
| 5-year return | -23.8% | -95.6% |
| Volatility (ann.) | 31.6% | 60.9% |
| Beta vs S&P 500 | 0.81 | -3.31 |
| Max drawdown (3Y) | -37.5% | -83.3% |
| Market cap | $51.8B | – |
| P/E (trailing) | 54.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | EW | VXX |
|---|---|---|
| 2022 | -42.4% | -23.8% |
| 2023 | +2.2% | -72.5% |
| 2024 | -2.9% | -26.2% |
| 2025 | +15.2% | -42.2% |
| 2026 | +5.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EW and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between EW and VXX?
The EW/VXX correlation stands at -0.30 on a 3-year window (1 year: -0.34, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EW?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
A reading of -0.30 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/ew-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ew-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EW correlations · VXX correlations
