FCNCA vs VXX: Correlation
First Citizens BancShares, Inc. (FCNCA) 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 -0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCNCA and VXX?
Over the past 3 years, FCNCA and VXX moved with a correlation of -0.50, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.29) than the 3-year average (-0.50). Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -910.0 %².
VXX is close to the least connected end of FCNCA's tracked universe, ranking #10 of 11. The last year tells two different stories: FCNCA led by 56.4 percentage points, +6.7% for FCNCA against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.1 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.
FCNCA vs VXX: side by side
| FCNCA (First Citizens BancShares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.7% | -49.7% |
| 5-year return | +146.7% | -95.6% |
| Volatility (ann.) | 29.7% | 60.9% |
| Beta vs S&P 500 | 0.95 | -3.31 |
| Max drawdown (3Y) | -33.5% | -83.3% |
| Market cap | $24.4B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.38% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCNCA | VXX |
|---|---|---|
| 2022 | -8.4% | -23.8% |
| 2023 | +87.7% | -72.5% |
| 2024 | +49.5% | -26.2% |
| 2025 | +2.0% | -42.2% |
| 2026 | +0.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCNCA and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
FAQ
What is the correlation between FCNCA and VXX?
As of 2026-08-27, the correlation of weekly returns between FCNCA and VXX is -0.50 over 3 years, -0.29 over 1 year and -0.37 over 5 years.
Is VXX a good diversifier for FCNCA?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
What does a correlation of -0.50 mean?
On the −1 to +1 scale, -0.50 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/fcnca-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcnca-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCNCA correlations · VXX correlations
