FAF vs VXX: Correlation
First American Corporation (New) (FAF) 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 -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FAF and VXX?
Across a 3-year window, the weekly returns of FAF and VXX correlate at -0.34, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.26 lands near the 3-year figure. Stretching to 5 years gives -0.39, with an annualized covariance of -532.0 %².
Out of 11 assets tracked against FAF, VXX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months FAF outperformed by 65.4 percentage points (+15.7% for FAF against -49.7% for VXX). One caveat on sizing: VXX is 2.4 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.
FAF vs VXX: side by side
| FAF (First American Corporation (New)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.7% | -49.7% |
| 5-year return | +24.3% | -95.6% |
| Volatility (ann.) | 25.7% | 60.9% |
| Beta vs S&P 500 | 0.72 | -3.31 |
| Max drawdown (3Y) | -22.1% | -83.3% |
| Market cap | $7.6B | – |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 2.99% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FAF | VXX |
|---|---|---|
| 2022 | -30.6% | -23.8% |
| 2023 | +27.7% | -72.5% |
| 2024 | +0.4% | -26.2% |
| 2025 | +1.9% | -42.2% |
| 2026 | +23.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FAF and VXX good diversifiers for each other?
Yes. With a correlation of -0.34, FAF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FAF and VXX?
As of 2026-08-27, the correlation of weekly returns between FAF and VXX is -0.34 over 3 years, -0.26 over 1 year and -0.39 over 5 years.
Is VXX a good diversifier for FAF?
Yes. With a correlation of -0.34, FAF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/faf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/faf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FAF correlations · VXX correlations
