EXP vs VXX: Correlation
Eagle Materials Inc (EXP) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXP and VXX?
Across a 3-year window, the weekly returns of EXP and VXX correlate at -0.40, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Stretching to 5 years gives -0.43, with an annualized covariance of -843.8 %².
Among the 24 assets we track against EXP, VXX sits near the bottom by co-movement, at rank #23. The last year tells two different stories: EXP led by 34.0 percentage points, -15.7% for EXP against -49.7% for VXX. One caveat on sizing: VXX is 1.8 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.
EXP vs VXX: side by side
| EXP (Eagle Materials Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -15.7% | -49.7% |
| 5-year return | +29.5% | -95.6% |
| Volatility (ann.) | 34.8% | 60.9% |
| Beta vs S&P 500 | 1.21 | -3.31 |
| Max drawdown (3Y) | -44.7% | -83.3% |
| Market cap | $6.1B | – |
| P/E (trailing) | 15.6 | – |
| Dividend yield | 0.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXP | VXX |
|---|---|---|
| 2022 | -19.6% | -23.8% |
| 2023 | +53.6% | -72.5% |
| 2024 | +22.1% | -26.2% |
| 2025 | -15.9% | -42.2% |
| 2026 | -4.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXP and VXX good diversifiers for each other?
Yes. With a correlation of -0.40, EXP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXP and VXX?
The EXP/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.32, 5 years: -0.43), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for EXP?
Yes. With a correlation of -0.40, EXP and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/exp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXP correlations · VXX correlations
