FIVE vs VXX: Correlation
How closely do Five Below, Inc. (FIVE) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FIVE and VXX?
Across a 3-year window, the weekly returns of FIVE and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.35 over 3. Stretching to 5 years gives -0.38, with an annualized covariance of -1080.8 %².
Among the 13 assets we track against FIVE, VXX sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with FIVE ahead by 120.7 points (+71.0% versus -49.7%).
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.
FIVE vs VXX: side by side
| FIVE (Five Below, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +71.0% | -49.7% |
| 5-year return | +15.1% | -95.6% |
| Volatility (ann.) | 50.8% | 60.9% |
| Beta vs S&P 500 | 1.42 | -3.31 |
| Max drawdown (3Y) | -74.1% | -83.3% |
| Market cap | $13.7B | – |
| P/E (trailing) | 31.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FIVE | VXX |
|---|---|---|
| 2022 | -14.5% | -23.8% |
| 2023 | +20.5% | -72.5% |
| 2024 | -50.8% | -26.2% |
| 2025 | +79.5% | -42.2% |
| 2026 | +31.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FIVE and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FIVE and VXX?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.27 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for FIVE?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 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/five-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/five-vs-vxx/)
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Related comparisons
Hubs: FIVE correlations · VXX correlations
