BY vs VXX: Correlation
How closely do Byline Bancorp, Inc. (BY) 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 -0.52, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BY and VXX?
On 3 years of weekly data the BY/VXX correlation comes out at -0.52, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.26) than the 3-year average (-0.52). The 5-year figure is -0.47, and annualized covariance runs at -855.1 %².
Out of 70 assets tracked against BY, VXX lands near the bottom at #69. Correlation aside, the last 12 months split them widely, with BY ahead by 82.2 points (+32.5% versus -49.7%). Risk is not evenly split, since VXX carries 2.3 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.
BY vs VXX: side by side
| BY (Byline Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.5% | -49.7% |
| 5-year return | +66.2% | -95.6% |
| Volatility (ann.) | 26.8% | 60.9% |
| Beta vs S&P 500 | 0.80 | -3.31 |
| Max drawdown (3Y) | -27.2% | -83.3% |
| Market cap | $1.7B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 1.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BY | VXX |
|---|---|---|
| 2022 | -14.7% | -23.8% |
| 2023 | +4.3% | -72.5% |
| 2024 | +25.0% | -26.2% |
| 2025 | +2.0% | -42.2% |
| 2026 | +32.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BY and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
FAQ
What is the correlation between BY and VXX?
Using weekly returns as of 2026-08-27: -0.52 over 3 years, with -0.26 over the last year and -0.47 over 5 years.
Is VXX a good diversifier for BY?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
What does a correlation of -0.52 mean?
A reading of -0.52 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/by-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/by-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BY correlations · VXX correlations
