FBK vs VXZ: Correlation
FB Financial Corporation (FBK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBK and VXZ?
Over the past 3 years, FBK and VXZ moved with a correlation of -0.52, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.36) runs above the 3-year figure (-0.52). Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -401.6 %².
VXZ is close to the least connected end of FBK's tracked universe, ranking #10 of 10. The last year tells two different stories: FBK led by 25.0 percentage points, +8.9% for FBK against -16.1% for VXZ.
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.
FBK vs VXZ: side by side
| FBK (FB Financial Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.9% | -16.1% |
| 5-year return | +53.1% | -53.1% |
| Volatility (ann.) | 30.3% | 25.6% |
| Beta vs S&P 500 | 0.94 | -1.31 |
| Max drawdown (3Y) | -30.6% | -36.4% |
| Market cap | $2.9B | – |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 1.39% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBK | VXZ |
|---|---|---|
| 2022 | -16.5% | +0.5% |
| 2023 | +12.3% | -44.0% |
| 2024 | +31.4% | -12.7% |
| 2025 | +10.0% | +5.7% |
| 2026 | +4.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.52, FBK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FBK and VXZ?
The FBK/VXZ correlation stands at -0.52 on a 3-year window (1 year: -0.36, 5 years: -0.47), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FBK?
Yes. With a correlation of -0.52, FBK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.52 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/fbk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBK correlations · VXZ correlations
