PLUS vs VXX: Correlation
ePlus inc. (PLUS) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLUS and VXX?
Across a 3-year window, the weekly returns of PLUS and VXX correlate at -0.41, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.41 over 3 years. Stretching to 5 years gives -0.40, with an annualized covariance of -823.1 %².
VXX is close to the least connected end of PLUS's tracked universe, ranking #12 of 12. The last year tells two different stories: PLUS led by 72.0 percentage points, +22.3% for PLUS against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.8 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.
PLUS vs VXX: side by side
| PLUS (ePlus inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +22.3% | -49.7% |
| 5-year return | +64.0% | -95.6% |
| Volatility (ann.) | 33.2% | 60.9% |
| Beta vs S&P 500 | 1.04 | -3.31 |
| Max drawdown (3Y) | -46.1% | -83.3% |
| Market cap | $2.3B | – |
| P/E (trailing) | 18.8 | – |
| Dividend yield | 1.18% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PLUS | VXX |
|---|---|---|
| 2022 | -17.8% | -23.8% |
| 2023 | +80.3% | -72.5% |
| 2024 | -7.5% | -26.2% |
| 2025 | +19.4% | -42.2% |
| 2026 | +0.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLUS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between PLUS and VXX?
The PLUS/VXX correlation stands at -0.41 on a 3-year window (1 year: -0.21, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PLUS?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 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/plus-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/plus-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PLUS correlations · VXX correlations
