COFS vs VXX: Correlation
ChoiceOne Financial Services, Inc. (COFS) 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 COFS and VXX?
Over the past 3 years, COFS and VXX moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.37) sits close to the 3-year figure. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -840.8 %².
Among the 12 assets we track against COFS, VXX sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with COFS ahead by 60.4 points (+10.7% versus -49.7%). Note the risk asymmetry: VXX runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
COFS vs VXX: side by side
| COFS (ChoiceOne Financial Services, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.7% | -49.7% |
| 5-year return | +66.4% | -95.6% |
| Volatility (ann.) | 36.3% | 60.9% |
| Beta vs S&P 500 | 0.84 | -3.31 |
| Max drawdown (3Y) | -34.9% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 8.8 | – |
| Dividend yield | 3.43% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COFS | VXX |
|---|---|---|
| 2022 | +14.4% | -23.8% |
| 2023 | +5.3% | -72.5% |
| 2024 | +26.3% | -26.2% |
| 2025 | -14.0% | -42.2% |
| 2026 | +14.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COFS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between COFS and VXX?
The COFS/VXX correlation stands at -0.38 on a 3-year window (1 year: -0.37, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for COFS?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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/cofs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cofs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: COFS correlations · VXX correlations
