BRO vs VXX: Correlation
Measured on weekly returns over the past three years, Brown & Brown (BRO) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRO and VXX?
On 3 years of weekly data the BRO/VXX correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.05) than the 3-year average (-0.21). The 5-year figure is -0.28, and annualized covariance runs at -316.9 %².
VXX is close to the least connected end of BRO's tracked universe, ranking #32 of 35. Their recent paths diverged sharply: over the last 12 months BRO outperformed by 24.7 percentage points (-25.0% for BRO against -49.7% for VXX). One caveat on sizing: VXX is 2.5 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.
BRO vs VXX: side by side
| BRO (Brown & Brown) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -25.0% | -49.7% |
| 5-year return | +27.5% | -95.6% |
| Volatility (ann.) | 24.4% | 60.9% |
| Beta vs S&P 500 | 0.39 | -3.31 |
| Max drawdown (3Y) | -55.8% | -83.3% |
| Market cap | $23.9B | – |
| P/E (trailing) | 23.3 | – |
| Dividend yield | 0.89% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BRO | VXX |
|---|---|---|
| 2022 | -18.4% | -23.8% |
| 2023 | +25.7% | -72.5% |
| 2024 | +44.3% | -26.2% |
| 2025 | -21.4% | -42.2% |
| 2026 | -9.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRO and VXX good diversifiers for each other?
Yes. With a correlation of -0.21, BRO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BRO and VXX?
The BRO/VXX correlation stands at -0.21 on a 3-year window (1 year: -0.05, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BRO?
Yes. With a correlation of -0.21, BRO and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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/bro-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bro-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BRO correlations · VXX correlations
