AFRI vs VXX: Correlation
Forafric Global PLC (AFRI) 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 -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFRI and VXX?
Across a 3-year window, the weekly returns of AFRI and VXX correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.31) sits close to the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -314.5 %².
Among the 11 assets we track against AFRI, VXX sits near the bottom by co-movement, at rank #10. The last year tells two different stories: AFRI led by 74.1 percentage points, +24.4% for AFRI against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.8 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.
AFRI vs VXX: side by side
| AFRI (Forafric Global PLC) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.4% | -49.7% |
| 5-year return | +9.0% | -95.6% |
| Volatility (ann.) | 21.7% | 60.9% |
| Beta vs S&P 500 | 0.33 | -3.31 |
| Max drawdown (3Y) | -34.3% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFRI | VXX |
|---|---|---|
| 2022 | +9.7% | -23.8% |
| 2023 | -4.6% | -72.5% |
| 2024 | -3.2% | -26.2% |
| 2025 | +7.6% | -42.2% |
| 2026 | -1.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFRI and VXX good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AFRI and VXX?
As of 2026-08-27, the correlation of weekly returns between AFRI and VXX is -0.24 over 3 years, -0.31 over 1 year and -0.17 over 5 years.
Is VXX a good diversifier for AFRI?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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/afri-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afri-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AFRI correlations · VXX correlations
