FMBH vs VXZ: Correlation
How closely do First Mid Bancshares, Inc. (FMBH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) 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 FMBH and VXZ?
Over the past 3 years, FMBH and VXZ moved with a correlation of -0.55, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.39 versus -0.55 over 3 years. Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -363.8 %².
Among the 56 assets we track against FMBH, VXZ sits near the bottom by co-movement, at rank #56. The last year tells two different stories: FMBH led by 43.0 percentage points, +26.9% for FMBH against -16.1% for VXZ.
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 VXZ: side by side
| FMBH (First Mid Bancshares, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.9% | -16.1% |
| 5-year return | +40.9% | -53.1% |
| Volatility (ann.) | 26.0% | 25.6% |
| Beta vs S&P 500 | 0.76 | -1.31 |
| Max drawdown (3Y) | -27.5% | -36.4% |
| Market cap | $1.3B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 1.99% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMBH | VXZ |
|---|---|---|
| 2022 | -23.2% | +0.5% |
| 2023 | +11.6% | -44.0% |
| 2024 | +9.1% | -12.7% |
| 2025 | +8.7% | +5.7% |
| 2026 | +31.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMBH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
FAQ
What is the correlation between FMBH and VXZ?
As of 2026-08-27, the correlation of weekly returns between FMBH and VXZ is -0.55 over 3 years, -0.39 over 1 year and -0.47 over 5 years.
Is VXZ a good diversifier for FMBH?
By historical standards, yes. A correlation of -0.55 means the two rarely move for the same reasons.
What does a correlation of -0.55 mean?
On the −1 to +1 scale, -0.55 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fmbh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmbh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FMBH correlations · VXZ correlations
