FBNC vs VXZ: Correlation
First Bancorp (FBNC) 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 -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBNC and VXZ?
Across a 3-year window, the weekly returns of FBNC and VXZ correlate at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.33) than the 3-year average (-0.48). Stretching to 5 years gives -0.44, with an annualized covariance of -367.3 %².
VXZ is close to the least connected end of FBNC's tracked universe, ranking #23 of 23. The last year tells two different stories: FBNC led by 33.0 percentage points, +16.9% for FBNC 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.
FBNC vs VXZ: side by side
| FBNC (First Bancorp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.9% | -16.1% |
| 5-year return | +72.4% | -53.1% |
| Volatility (ann.) | 30.0% | 25.6% |
| Beta vs S&P 500 | 0.89 | -1.31 |
| Max drawdown (3Y) | -26.0% | -36.4% |
| Market cap | $2.6B | – |
| P/E (trailing) | 19.9 | – |
| Dividend yield | 1.47% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBNC | VXZ |
|---|---|---|
| 2022 | -4.2% | +0.5% |
| 2023 | -11.2% | -44.0% |
| 2024 | +21.7% | -12.7% |
| 2025 | +17.8% | +5.7% |
| 2026 | +26.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBNC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between FBNC and VXZ?
As of 2026-08-27, the correlation of weekly returns between FBNC and VXZ is -0.48 over 3 years, -0.33 over 1 year and -0.44 over 5 years.
Is VXZ a good diversifier for FBNC?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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/fbnc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbnc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBNC correlations · VXZ correlations
