FET vs VXX: Correlation
Forum Energy Technologies, Inc. (FET) 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 -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FET and VXX?
Over the past 3 years, FET and VXX moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.04) runs above the 3-year figure (-0.34). Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -1017.4 %².
Out of 12 assets tracked against FET, VXX lands near the bottom at #12. The last year tells two different stories: FET led by 262.4 percentage points, +212.7% for FET 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.
FET vs VXX: side by side
| FET (Forum Energy Technologies, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +212.7% | -49.7% |
| 5-year return | +307.0% | -95.6% |
| Volatility (ann.) | 49.1% | 60.9% |
| Beta vs S&P 500 | 0.80 | -3.31 |
| Max drawdown (3Y) | -47.1% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FET | VXX |
|---|---|---|
| 2022 | +83.8% | -23.8% |
| 2023 | -24.8% | -72.5% |
| 2024 | -30.1% | -26.2% |
| 2025 | +138.5% | -42.2% |
| 2026 | +115.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FET and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between FET and VXX?
The FET/VXX correlation stands at -0.34 on a 3-year window (1 year: -0.04, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for FET?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 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/fet-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fet-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FET correlations · VXX correlations
