FCX vs VXX: Correlation
Measured on weekly returns over the past three years, Freeport-McMoRan (FCX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and VXX?
On 3 years of weekly data the FCX/VXX correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. The 5-year figure is -0.41, and annualized covariance runs at -1158.7 %².
Among the 34 assets we track against FCX, VXX sits near the bottom by co-movement, at rank #34. The last year tells two different stories: FCX led by 130.4 percentage points, +80.7% for FCX against -49.7% for VXX.
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.
FCX vs VXX: side by side
| FCX (Freeport-McMoRan) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +80.7% | -49.7% |
| 5-year return | +129.3% | -95.6% |
| Volatility (ann.) | 43.2% | 60.9% |
| Beta vs S&P 500 | 1.55 | -3.31 |
| Max drawdown (3Y) | -46.3% | -83.3% |
| Market cap | $112.6B | – |
| P/E (trailing) | 38.8 | – |
| Dividend yield | 0.76% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | FCX | VXX |
|---|---|---|
| 2022 | -7.3% | -23.8% |
| 2023 | +13.7% | -72.5% |
| 2024 | -9.4% | -26.2% |
| 2025 | +35.4% | -42.2% |
| 2026 | +55.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between FCX and VXX?
As of 2026-08-27, the correlation of weekly returns between FCX and VXX is -0.44 over 3 years, -0.34 over 1 year and -0.41 over 5 years.
Is VXX a good diversifier for FCX?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 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/fcx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCX correlations · VXX correlations
