FIRY vs VXX: Correlation
Firy Inc. (FIRY) 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 -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIRY and VXX?
On 3 years of weekly data the FIRY/VXX correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.12 versus -0.25 over 3 years. The 5-year figure is -0.30, and annualized covariance runs at -1459.3 %².
VXX is close to the least connected end of FIRY's tracked universe, ranking #14 of 16. Correlation aside, the last 12 months split them widely, with FIRY ahead by 65.9 points (+16.2% versus -49.7%). Risk is not evenly split, since FIRY carries 1.6 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.
FIRY vs VXX: side by side
| FIRY (Firy Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.2% | -49.7% |
| 5-year return | -95.2% | -95.6% |
| Volatility (ann.) | 95.3% | 60.9% |
| Beta vs S&P 500 | 2.29 | -3.31 |
| Max drawdown (3Y) | -74.9% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIRY | VXX |
|---|---|---|
| 2022 | -93.2% | -23.8% |
| 2023 | -38.3% | -72.5% |
| 2024 | -19.4% | -26.2% |
| 2025 | -14.3% | -42.2% |
| 2026 | +136.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIRY and VXX good diversifiers for each other?
Yes. With a correlation of -0.25, FIRY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FIRY and VXX?
The FIRY/VXX correlation stands at -0.25 on a 3-year window (1 year: -0.12, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for FIRY?
Yes. With a correlation of -0.25, FIRY and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/firy-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/firy-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FIRY correlations · VXX correlations
