FINS vs VXX: Correlation
How closely do Angel Oak Financial Strategies Income Term Trust (FINS) 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 -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FINS and VXX?
Over the past 3 years, FINS and VXX moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.63) than the 3-year average (-0.42). Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -208.9 %².
VXX is close to the least connected end of FINS's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months FINS outperformed by 55.9 percentage points (+6.2% for FINS against -49.7% for VXX). Risk is not evenly split, since VXX carries 7.4 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.
FINS vs VXX: side by side
| FINS (Angel Oak Financial Strategies Income Term Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.2% | -49.7% |
| 5-year return | +12.5% | -95.6% |
| Volatility (ann.) | 8.2% | 60.9% |
| Beta vs S&P 500 | 0.28 | -3.31 |
| Max drawdown (3Y) | -6.0% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 10.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FINS | VXX |
|---|---|---|
| 2022 | -18.2% | -23.8% |
| 2023 | +2.5% | -72.5% |
| 2024 | +18.3% | -26.2% |
| 2025 | +15.2% | -42.2% |
| 2026 | +2.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FINS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between FINS and VXX?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.63 over the last year and -0.36 over 5 years.
Is VXX a good diversifier for FINS?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
A reading of -0.42 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/fins-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fins-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FINS correlations · VXX correlations
