EXFY vs VXX: Correlation
Measured on weekly returns over the past three years, Expensify, Inc. (EXFY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXFY and VXX?
Across a 3-year window, the weekly returns of EXFY and VXX correlate at -0.37, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.26) runs above the 3-year figure (-0.37). Stretching to 5 years gives -0.34, with an annualized covariance of -1871.9 %².
Out of 12 assets tracked against EXFY, VXX lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with EXFY ahead by 83.0 points (+33.3% 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.
EXFY vs VXX: side by side
| EXFY (Expensify, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.3% | -49.7% |
| 5-year return | -93.8% | -95.6% |
| Volatility (ann.) | 83.7% | 60.9% |
| Beta vs S&P 500 | 2.04 | -3.31 |
| Max drawdown (3Y) | -83.4% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXFY | VXX |
|---|---|---|
| 2022 | -79.9% | -23.8% |
| 2023 | -72.0% | -72.5% |
| 2024 | +35.6% | -26.2% |
| 2025 | -54.9% | -42.2% |
| 2026 | +69.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXFY 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 EXFY and VXX?
The EXFY/VXX correlation stands at -0.37 on a 3-year window (1 year: -0.26, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EXFY?
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?
On the −1 to +1 scale, -0.37 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/exfy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exfy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXFY correlations · VXX correlations
