CFFI vs VXX: Correlation
C&F Financial Corporation (CFFI) 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 -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFFI and VXX?
On 3 years of weekly data the CFFI/VXX correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.11 versus -0.33 over 3 years. The 5-year figure is -0.21, and annualized covariance runs at -745.4 %².
Out of 14 assets tracked against CFFI, VXX lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with CFFI ahead by 79.4 points (+29.7% versus -49.7%). Risk is not evenly split, since VXX carries 1.7 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.
CFFI vs VXX: side by side
| CFFI (C&F Financial Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.7% | -49.7% |
| 5-year return | +96.2% | -95.6% |
| Volatility (ann.) | 36.7% | 60.9% |
| Beta vs S&P 500 | 0.73 | -3.31 |
| Max drawdown (3Y) | -50.7% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 2.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CFFI | VXX |
|---|---|---|
| 2022 | +17.5% | -23.8% |
| 2023 | +20.7% | -72.5% |
| 2024 | +7.8% | -26.2% |
| 2025 | +4.6% | -42.2% |
| 2026 | +26.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFFI and VXX good diversifiers for each other?
Yes. With a correlation of -0.33, CFFI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CFFI and VXX?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with -0.11 over the last year and -0.21 over 5 years.
Is VXX a good diversifier for CFFI?
Yes. With a correlation of -0.33, CFFI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cffi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cffi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CFFI correlations · VXX correlations
