FER vs VXX: Correlation
Measured on weekly returns over the past three years, Ferrovial N.V. (FER) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FER and VXX?
On 3 years of weekly data the FER/VXX correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.32). The 5-year figure is -0.25, and annualized covariance runs at -548.8 %².
VXX is close to the least connected end of FER's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months FER outperformed by 59.6 percentage points (+9.9% for FER against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.1 times the volatility of the other side.
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.
FER vs VXX: side by side
| FER (Ferrovial N.V.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +9.9% | -49.7% |
| 5-year return | +129.1% | -95.6% |
| Volatility (ann.) | 28.5% | 60.9% |
| Beta vs S&P 500 | 0.65 | -3.31 |
| Max drawdown (3Y) | -20.2% | -83.3% |
| Market cap | $42.4B | – |
| P/E (trailing) | 61.9 | – |
| Dividend yield | 0.93% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FER | VXX |
|---|---|---|
| 2022 | -5.6% | -23.8% |
| 2023 | +44.1% | -72.5% |
| 2024 | +21.3% | -26.2% |
| 2025 | +56.4% | -42.2% |
| 2026 | -8.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FER and VXX good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FER and VXX?
As of 2026-08-27, the correlation of weekly returns between FER and VXX is -0.32 over 3 years, -0.45 over 1 year and -0.25 over 5 years.
Is VXX a good diversifier for FER?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
A reading of -0.32 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fer-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fer-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FER correlations · VXX correlations
