BELFA vs VXX: Correlation
How closely do Bel Fuse Inc. (BELFA) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BELFA and VXX?
On 3 years of weekly data the BELFA/VXX correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.39 lands near the 3-year figure. The 5-year figure is -0.32, and annualized covariance runs at -1027.8 %².
Out of 10 assets tracked against BELFA, VXX lands near the bottom at #10. The last year tells two different stories: BELFA led by 130.2 percentage points, +80.5% for BELFA against -49.7% for VXX.
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.
BELFA vs VXX: side by side
| BELFA (Bel Fuse Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +80.5% | -49.7% |
| 5-year return | +1292.5% | -95.6% |
| Volatility (ann.) | 48.6% | 60.9% |
| Beta vs S&P 500 | 1.30 | -3.31 |
| Max drawdown (3Y) | -43.4% | -83.3% |
| Market cap | $3.1B | – |
| P/E (trailing) | 54.3 | – |
| Dividend yield | 0.11% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BELFA | VXX |
|---|---|---|
| 2022 | +117.0% | -23.8% |
| 2023 | +102.0% | -72.5% |
| 2024 | +39.8% | -26.2% |
| 2025 | +69.0% | -42.2% |
| 2026 | +40.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BELFA and VXX good diversifiers for each other?
Yes. With a correlation of -0.35, BELFA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BELFA and VXX?
As of 2026-08-27, the correlation of weekly returns between BELFA and VXX is -0.35 over 3 years, -0.39 over 1 year and -0.32 over 5 years.
Is VXX a good diversifier for BELFA?
Yes. With a correlation of -0.35, BELFA and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 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/belfa-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/belfa-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BELFA correlations · VXX correlations
