FG vs VXX: Correlation
F&G Annuities & Life, Inc. (FG) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FG and VXX?
Across a 3-year window, the weekly returns of FG and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.35). Stretching to 5 years gives -0.34, with an annualized covariance of -903.5 %².
VXX is close to the least connected end of FG's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with FG ahead by 20.0 points (-29.7% versus -49.7%).
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.
FG vs VXX: side by side
| FG (F&G Annuities & Life, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -29.7% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 42.0% | 60.9% |
| Beta vs S&P 500 | 1.02 | -3.31 |
| Max drawdown (3Y) | -56.2% | -83.3% |
| Market cap | $3.1B | – |
| P/E (trailing) | 7.7 | – |
| Dividend yield | 4.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FG | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | +137.1% | -72.5% |
| 2024 | -8.0% | -26.2% |
| 2025 | -23.6% | -42.2% |
| 2026 | -22.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FG and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FG and VXX?
As of 2026-08-27, the correlation of weekly returns between FG and VXX is -0.35 over 3 years, -0.03 over 1 year and -0.34 over 5 years.
Is VXX a good diversifier for FG?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 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/fg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FG correlations · VXX correlations
