FIBK vs VXZ: Correlation
How closely do First Interstate BancSystem, Inc. (FIBK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.59, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIBK and VXZ?
Across a 3-year window, the weekly returns of FIBK and VXZ correlate at -0.59, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.45) runs above the 3-year figure (-0.59). Stretching to 5 years gives -0.48, with an annualized covariance of -454.2 %².
Out of 20 assets tracked against FIBK, VXZ lands near the bottom at #20. Correlation aside, the last 12 months split them widely, with FIBK ahead by 38.0 points (+21.9% versus -16.1%).
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.
FIBK vs VXZ: side by side
| FIBK (First Interstate BancSystem, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.9% | -16.1% |
| 5-year return | +13.8% | -53.1% |
| Volatility (ann.) | 30.3% | 25.6% |
| Beta vs S&P 500 | 0.98 | -1.31 |
| Max drawdown (3Y) | -31.8% | -36.4% |
| Market cap | $3.6B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 5.05% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIBK | VXZ |
|---|---|---|
| 2022 | -0.8% | +0.5% |
| 2023 | -14.8% | -44.0% |
| 2024 | +12.9% | -12.7% |
| 2025 | +13.5% | +5.7% |
| 2026 | +11.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIBK and VXZ good diversifiers for each other?
Yes: at -0.59, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FIBK and VXZ?
The FIBK/VXZ correlation stands at -0.59 on a 3-year window (1 year: -0.45, 5 years: -0.48), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FIBK?
Yes: at -0.59, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.59 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/fibk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fibk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FIBK correlations · VXZ correlations
