CFFN vs VXX: Correlation
Capitol Federal Financial, Inc. (CFFN) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CFFN and VXX?
Across a 3-year window, the weekly returns of CFFN and VXX correlate at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.30 versus -0.42 over 3 years. Stretching to 5 years gives -0.33, with an annualized covariance of -777.1 %².
Out of 14 assets tracked against CFFN, VXX lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months CFFN outperformed by 90.7 percentage points (+41.0% for CFFN against -49.7% for VXX). One caveat on sizing: VXX is 2.0 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.
CFFN vs VXX: side by side
| CFFN (Capitol Federal Financial, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +41.0% | -49.7% |
| 5-year return | +4.8% | -95.6% |
| Volatility (ann.) | 30.6% | 60.9% |
| Beta vs S&P 500 | 0.78 | -3.31 |
| Max drawdown (3Y) | -29.0% | -83.3% |
| Market cap | $1.1B | – |
| P/E (trailing) | 13.3 | – |
| Dividend yield | 3.93% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CFFN | VXX |
|---|---|---|
| 2022 | -16.3% | -23.8% |
| 2023 | -21.2% | -72.5% |
| 2024 | -2.9% | -26.2% |
| 2025 | +22.0% | -42.2% |
| 2026 | +31.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CFFN and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, CFFN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CFFN and VXX?
As of 2026-08-27, the correlation of weekly returns between CFFN and VXX is -0.42 over 3 years, -0.30 over 1 year and -0.33 over 5 years.
Is VXX a good diversifier for CFFN?
Yes. With a correlation of -0.42, CFFN and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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/cffn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cffn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CFFN correlations · VXX correlations
