FINS vs VXZ: Correlation
Angel Oak Financial Strategies Income Term Trust (FINS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FINS and VXZ?
On 3 years of weekly data the FINS/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.63) runs below the 3-year figure (-0.42). The 5-year figure is -0.39, and annualized covariance runs at -87.6 %².
Among the 12 assets we track against FINS, VXZ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: FINS led by 22.3 percentage points, +6.2% for FINS against -16.1% for VXZ. Risk is not evenly split, since VXZ carries 3.1 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 VXZ: side by side
| FINS (Angel Oak Financial Strategies Income Term Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.2% | -16.1% |
| 5-year return | +12.5% | -53.1% |
| Volatility (ann.) | 8.2% | 25.6% |
| Beta vs S&P 500 | 0.28 | -1.31 |
| Max drawdown (3Y) | -6.0% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 7.6 | – |
| Dividend yield | 10.65% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FINS | VXZ |
|---|---|---|
| 2022 | -18.2% | +0.5% |
| 2023 | +2.5% | -44.0% |
| 2024 | +18.3% | -12.7% |
| 2025 | +15.2% | +5.7% |
| 2026 | +2.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FINS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.42, FINS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FINS and VXZ?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.63 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for FINS?
Yes. With a correlation of -0.42, FINS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fins-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FINS correlations · VXZ correlations
