BOH vs VXX: Correlation
Bank of Hawaii Corporation (BOH) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOH and VXX?
Across a 3-year window, the weekly returns of BOH and VXX correlate at -0.38, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.18) than the 3-year average (-0.38). Stretching to 5 years gives -0.38, with an annualized covariance of -674.7 %².
VXX is close to the least connected end of BOH's tracked universe, ranking #11 of 12. The last year tells two different stories: BOH led by 66.6 percentage points, +16.9% for BOH against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.1 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.
BOH vs VXX: side by side
| BOH (Bank of Hawaii Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.9% | -49.7% |
| 5-year return | +14.3% | -95.6% |
| Volatility (ann.) | 29.1% | 60.9% |
| Beta vs S&P 500 | 0.71 | -3.31 |
| Max drawdown (3Y) | -24.2% | -83.3% |
| Market cap | $3.0B | – |
| P/E (trailing) | 14.4 | – |
| Dividend yield | 3.62% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOH | VXX |
|---|---|---|
| 2022 | -4.1% | -23.8% |
| 2023 | -1.5% | -72.5% |
| 2024 | +3.6% | -26.2% |
| 2025 | +0.0% | -42.2% |
| 2026 | +15.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOH and VXX good diversifiers for each other?
Yes. With a correlation of -0.38, BOH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BOH and VXX?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.18 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for BOH?
Yes. With a correlation of -0.38, BOH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 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/boh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BOH correlations · VXX correlations
