AGM vs VXX: Correlation
Federal Agricultural Mortgage Corporation (AGM) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGM and VXX?
Across a 3-year window, the weekly returns of AGM and VXX correlate at -0.44, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.44). Stretching to 5 years gives -0.44, with an annualized covariance of -807.3 %².
Among the 16 assets we track against AGM, VXX sits near the bottom by co-movement, at rank #15. Their recent paths diverged sharply: over the last 12 months AGM outperformed by 61.1 percentage points (+11.4% for AGM against -49.7% for VXX). One caveat on sizing: VXX is 2.0 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.
AGM vs VXX: side by side
| AGM (Federal Agricultural Mortgage Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.4% | -49.7% |
| 5-year return | +167.7% | -95.6% |
| Volatility (ann.) | 30.2% | 60.9% |
| Beta vs S&P 500 | 0.85 | -3.31 |
| Max drawdown (3Y) | -32.5% | -83.3% |
| Market cap | $2.4B | – |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 2.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGM | VXX |
|---|---|---|
| 2022 | -5.8% | -23.8% |
| 2023 | +74.6% | -72.5% |
| 2024 | +6.1% | -26.2% |
| 2025 | -8.0% | -42.2% |
| 2026 | +29.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGM and VXX good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGM and VXX?
As of 2026-08-27, the correlation of weekly returns between AGM and VXX is -0.44 over 3 years, -0.14 over 1 year and -0.44 over 5 years.
Is VXX a good diversifier for AGM?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 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/agm-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agm-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGM correlations · VXX correlations
