FITB vs VXX: Correlation
How closely do Fifth Third Bancorp (FITB) 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 -0.55, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FITB and VXX?
Over the past 3 years, FITB and VXX moved with a correlation of -0.55, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.37) than the 3-year average (-0.55). Over 5 years the correlation is -0.51, and the annualized covariance of weekly returns is -983.8 %².
Out of 45 assets tracked against FITB, VXX lands near the bottom at #44. Correlation aside, the last 12 months split them widely, with FITB ahead by 74.3 points (+24.6% versus -49.7%). Note the risk asymmetry: VXX runs 2.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FITB vs VXX: side by side
| FITB (Fifth Third Bancorp) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.6% | -49.7% |
| 5-year return | +71.2% | -95.6% |
| Volatility (ann.) | 29.4% | 60.9% |
| Beta vs S&P 500 | 1.03 | -3.31 |
| Max drawdown (3Y) | -29.9% | -83.3% |
| Market cap | $49.7B | – |
| P/E (trailing) | 18.5 | – |
| Dividend yield | 2.90% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | FITB | VXX |
|---|---|---|
| 2022 | -21.9% | -23.8% |
| 2023 | +10.4% | -72.5% |
| 2024 | +27.2% | -26.2% |
| 2025 | +14.8% | -42.2% |
| 2026 | +19.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FITB and VXX good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FITB and VXX?
Using weekly returns as of 2026-08-27: -0.55 over 3 years, with -0.37 over the last year and -0.51 over 5 years.
Is VXX a good diversifier for FITB?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 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/fitb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fitb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FITB correlations · VXX correlations
