BHB vs VXX: Correlation
How closely do Bar Harbor Bankshares, Inc. (BHB) 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 -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHB and VXX?
Over the past 3 years, BHB and VXX moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.27) than the 3-year average (-0.44). Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -763.7 %².
VXX is close to the least connected end of BHB's tracked universe, ranking #20 of 21. Correlation aside, the last 12 months split them widely, with BHB ahead by 75.9 points (+26.2% versus -49.7%). Risk is not evenly split, since VXX carries 2.2 times the volatility of the other side.
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.
BHB vs VXX: side by side
| BHB (Bar Harbor Bankshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.2% | -49.7% |
| 5-year return | +75.3% | -95.6% |
| Volatility (ann.) | 28.3% | 60.9% |
| Beta vs S&P 500 | 0.67 | -3.31 |
| Max drawdown (3Y) | -27.1% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 13.3 | – |
| Dividend yield | 3.31% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHB | VXX |
|---|---|---|
| 2022 | +14.8% | -23.8% |
| 2023 | -4.5% | -72.5% |
| 2024 | +8.6% | -26.2% |
| 2025 | +5.7% | -42.2% |
| 2026 | +29.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHB and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between BHB and VXX?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.27 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for BHB?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bhb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BHB correlations · VXX correlations
