ASRV vs VXX: Correlation
How closely do AmeriServ Financial Inc. (ASRV) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASRV and VXX?
On 3 years of weekly data the ASRV/VXX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. The 5-year figure is -0.16, and annualized covariance runs at -476.4 %².
VXX is close to the least connected end of ASRV's tracked universe, ranking #10 of 11. Correlation aside, the last 12 months split them widely, with ASRV ahead by 113.0 points (+63.3% versus -49.7%). 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.
ASRV vs VXX: side by side
| ASRV (AmeriServ Financial Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +63.3% | -49.7% |
| 5-year return | +50.5% | -95.6% |
| Volatility (ann.) | 34.7% | 60.9% |
| Beta vs S&P 500 | 0.31 | -3.31 |
| Max drawdown (3Y) | -32.9% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 9.9 | – |
| Dividend yield | 2.36% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASRV | VXX |
|---|---|---|
| 2022 | +5.0% | -23.8% |
| 2023 | -14.5% | -72.5% |
| 2024 | -13.4% | -26.2% |
| 2025 | +24.3% | -42.2% |
| 2026 | +55.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASRV and VXX good diversifiers for each other?
Yes. With a correlation of -0.23, ASRV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ASRV and VXX?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.17 over the last year and -0.16 over 5 years.
Is VXX a good diversifier for ASRV?
Yes. With a correlation of -0.23, ASRV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/asrv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asrv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ASRV correlations · VXX correlations
