EWTX vs VXX: Correlation
How closely do Edgewise Therapeutics, Inc. (EWTX) 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 -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EWTX and VXX?
On 3 years of weekly data the EWTX/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.17) than the 3-year average (-0.37). The 5-year figure is -0.34, and annualized covariance runs at -1749.9 %².
Out of 10 assets tracked against EWTX, VXX lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with EWTX ahead by 255.5 points (+205.8% versus -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.
EWTX vs VXX: side by side
| EWTX (Edgewise Therapeutics, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +205.8% | -49.7% |
| 5-year return | +194.6% | -95.6% |
| Volatility (ann.) | 77.7% | 60.9% |
| Beta vs S&P 500 | 2.04 | -3.31 |
| Max drawdown (3Y) | -68.8% | -83.3% |
| Market cap | $4.8B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EWTX | VXX |
|---|---|---|
| 2022 | -41.5% | -23.8% |
| 2023 | +22.4% | -72.5% |
| 2024 | +144.1% | -26.2% |
| 2025 | -7.1% | -42.2% |
| 2026 | +78.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EWTX and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EWTX and VXX?
As of 2026-08-27, the correlation of weekly returns between EWTX and VXX is -0.37 over 3 years, -0.17 over 1 year and -0.34 over 5 years.
Is VXX a good diversifier for EWTX?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
A reading of -0.37 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/ewtx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ewtx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EWTX correlations · VXX correlations
