AFL vs VXX: Correlation
Aflac (AFL) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFL and VXX?
Over the past 3 years, AFL and VXX moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.02) than the 3-year average (-0.25). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -296.2 %².
Out of 32 assets tracked against AFL, VXX lands near the bottom at #31. Correlation aside, the last 12 months split them widely, with AFL ahead by 60.5 points (+10.8% versus -49.7%). Note the risk asymmetry: VXX runs 3.2 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.
AFL vs VXX: side by side
| AFL (Aflac) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.8% | -49.7% |
| 5-year return | +131.3% | -95.6% |
| Volatility (ann.) | 19.2% | 60.9% |
| Beta vs S&P 500 | 0.36 | -3.31 |
| Max drawdown (3Y) | -13.6% | -83.3% |
| Market cap | $58.4B | – |
| P/E (trailing) | 12.6 | – |
| Dividend yield | 2.03% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AFL | VXX |
|---|---|---|
| 2022 | +26.4% | -23.8% |
| 2023 | +17.4% | -72.5% |
| 2024 | +28.1% | -26.2% |
| 2025 | +8.9% | -42.2% |
| 2026 | +7.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFL and VXX good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AFL and VXX?
As of 2026-08-27, the correlation of weekly returns between AFL and VXX is -0.25 over 3 years, 0.02 over 1 year and -0.33 over 5 years.
Is VXX a good diversifier for AFL?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/afl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFL correlations · VXX correlations
