FFBC vs VXX: Correlation
How closely do First Financial Bancorp. (FFBC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FFBC and VXX?
Across a 3-year window, the weekly returns of FFBC and VXX correlate at -0.47, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.47 over 3 years. Stretching to 5 years gives -0.44, with an annualized covariance of -798.5 %².
Among the 31 assets we track against FFBC, VXX sits near the bottom by co-movement, at rank #30. Their recent paths diverged sharply: over the last 12 months FFBC outperformed by 76.4 percentage points (+26.7% for FFBC against -49.7% for VXX). One caveat on sizing: VXX is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FFBC vs VXX: side by side
| FFBC (First Financial Bancorp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.7% | -49.7% |
| 5-year return | +69.6% | -95.6% |
| Volatility (ann.) | 28.0% | 60.9% |
| Beta vs S&P 500 | 0.81 | -3.31 |
| Max drawdown (3Y) | -26.1% | -83.3% |
| Market cap | $3.4B | – |
| P/E (trailing) | 11.6 | – |
| Dividend yield | 3.05% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FFBC | VXX |
|---|---|---|
| 2022 | +3.4% | -23.8% |
| 2023 | +2.4% | -72.5% |
| 2024 | +17.6% | -26.2% |
| 2025 | -3.3% | -42.2% |
| 2026 | +33.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FFBC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between FFBC and VXX?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.16 over the last year and -0.44 over 5 years.
Is VXX a good diversifier for FFBC?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 mean?
A reading of -0.47 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/ffbc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ffbc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FFBC correlations · VXX correlations
