FMBH vs VXX: Correlation
Measured on weekly returns over the past three years, First Mid Bancshares, Inc. (FMBH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.51, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMBH and VXX?
Over the past 3 years, FMBH and VXX moved with a correlation of -0.51, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.27) runs above the 3-year figure (-0.51). Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -807.4 %².
Among the 56 assets we track against FMBH, VXX sits near the bottom by co-movement, at rank #55. Their recent paths diverged sharply: over the last 12 months FMBH outperformed by 76.6 percentage points (+26.9% for FMBH against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.3 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.
FMBH vs VXX: side by side
| FMBH (First Mid Bancshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.9% | -49.7% |
| 5-year return | +40.9% | -95.6% |
| Volatility (ann.) | 26.0% | 60.9% |
| Beta vs S&P 500 | 0.76 | -3.31 |
| Max drawdown (3Y) | -27.5% | -83.3% |
| Market cap | $1.3B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 1.99% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | VXX |
|---|---|---|
| 2022 | -23.2% | -23.8% |
| 2023 | +11.6% | -72.5% |
| 2024 | +9.1% | -26.2% |
| 2025 | +8.7% | -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 FMBH and VXX good diversifiers for each other?
Yes. With a correlation of -0.51, FMBH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FMBH and VXX?
As of 2026-08-27, the correlation of weekly returns between FMBH and VXX is -0.51 over 3 years, -0.27 over 1 year and -0.45 over 5 years.
Is VXX a good diversifier for FMBH?
Yes. With a correlation of -0.51, FMBH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.51 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/fmbh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmbh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FMBH correlations · VXX correlations
