What I have noticed here at MIT is that many refer to fraternities by the first letters in the English names of Greek letters rather than the Greek letters themselves. I’m not sure if this is also a thing elsewhere, but this irks me for multiple reasons. There’s of course the fact that if they were meant to be English, there’s no reason Greek letters would have been used rather than English letters. What mostly annoys me, though, is the usage of the wrong English letters to correspond to Greek letters, for example, the referring to of “phi” as “P,” when “phi” clearly corresponds to “F.” The mapping of “phi” to “P,” in addition to being a mistransliteration, also creates ambiguity when referring to English names, due to “pi” also being “P.” So if one must use English letters, which I will still frown at but will not complain further about, at least it is probably a good idea to have exactly one English letter per Greek letter. I think the following transliteration scheme is most reasonable.
Chi, psi, and omega are mapped to English letters similar in written form to the Greek letters. Xi and eta are probably the most obscure connections. Eta’s capital form being like H was displaced to assign a more relevant letter to the much more common theta, and thus eta is mapped to v using the convoluted chained reasoning of eta’s lowercase form looking like N, N corresponding to nu, and nu’s lowercase form looking like V. Individually, this connection would make no sense, but in making way for other, specifically more common letters, this is probably optimal. Of the remaining choices after all assignments, Q is probably the most Xi-like in terms of their roles in their respective alphabets.