FBNC vs VXX: Correlation
First Bancorp (FBNC) 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 -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and VXX?
Over the past 3 years, FBNC and VXX moved with a correlation of -0.46, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.19 versus -0.46 over 3 years. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -848.4 %².
VXX is close to the least connected end of FBNC's tracked universe, ranking #22 of 23. Correlation aside, the last 12 months split them widely, with FBNC ahead by 66.6 points (+16.9% versus -49.7%). Note the risk asymmetry: VXX runs 2.0 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.
FBNC vs VXX: side by side
| FBNC (First Bancorp) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.9% | -49.7% |
| 5-year return | +72.4% | -95.6% |
| Volatility (ann.) | 30.0% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -26.0% | -83.3% |
| Market cap | $2.6B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.47% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | VXX |
|---|---|---|
| 2022 | -4.2% | -23.8% |
| 2023 | -11.2% | -72.5% |
| 2024 | +21.7% | -26.2% |
| 2025 | +17.8% | -42.2% |
| 2026 | +26.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
FAQ
What is the correlation between FBNC and VXX?
The FBNC/VXX correlation stands at -0.46 on a 3-year window (1 year: -0.19, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for FBNC?
By historical standards, yes. A correlation of -0.46 means the two rarely move for the same reasons.
What does a correlation of -0.46 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/fbnc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbnc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FBNC correlations · VXX correlations
