EWBC vs VXX: Correlation
How closely do East West Bancorp, Inc. (EWBC) 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 -0.56, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EWBC and VXX?
On 3 years of weekly data the EWBC/VXX correlation comes out at -0.56, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.38) than the 3-year average (-0.56). The 5-year figure is -0.51, and annualized covariance runs at -1024.7 %².
VXX is close to the least connected end of EWBC's tracked universe, ranking #12 of 13. Their recent paths diverged sharply: over the last 12 months EWBC outperformed by 74.7 percentage points (+25.0% for EWBC against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EWBC vs VXX: side by side
| EWBC (East West Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.0% | -49.7% |
| 5-year return | +103.5% | -95.6% |
| Volatility (ann.) | 30.2% | 60.9% |
| Beta vs S&P 500 | 1.03 | -3.31 |
| Max drawdown (3Y) | -35.8% | -83.3% |
| Market cap | $17.8B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 2.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EWBC | VXX |
|---|---|---|
| 2022 | -14.4% | -23.8% |
| 2023 | +12.8% | -72.5% |
| 2024 | +36.8% | -26.2% |
| 2025 | +20.3% | -42.2% |
| 2026 | +17.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EWBC and VXX good diversifiers for each other?
Yes. With a correlation of -0.56, EWBC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EWBC and VXX?
Using weekly returns as of 2026-08-27: -0.56 over 3 years, with -0.38 over the last year and -0.51 over 5 years.
Is VXX a good diversifier for EWBC?
Yes. With a correlation of -0.56, EWBC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.56 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ewbc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ewbc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EWBC correlations · VXX correlations
