FMNB vs VXX: Correlation
How closely do Farmers National Banc Corp. (FMNB) 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 -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMNB and VXX?
Over the past 3 years, FMNB and VXX moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.27 versus -0.44 over 3 years. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -749.7 %².
VXX is close to the least connected end of FMNB's tracked universe, ranking #19 of 20. Correlation aside, the last 12 months split them widely, with FMNB ahead by 60.0 points (+10.3% versus -49.7%). One caveat on sizing: VXX is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FMNB vs VXX: side by side
| FMNB (Farmers National Banc Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.3% | -49.7% |
| 5-year return | +27.6% | -95.6% |
| Volatility (ann.) | 27.7% | 60.9% |
| Beta vs S&P 500 | 0.71 | -3.31 |
| Max drawdown (3Y) | -23.6% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 4.34% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMNB | VXX |
|---|---|---|
| 2022 | -20.6% | -23.8% |
| 2023 | +7.8% | -72.5% |
| 2024 | +3.4% | -26.2% |
| 2025 | -1.7% | -42.2% |
| 2026 | +21.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMNB and VXX good diversifiers for each other?
Yes. With a correlation of -0.44, FMNB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FMNB and VXX?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.27 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for FMNB?
Yes. With a correlation of -0.44, FMNB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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/fmnb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmnb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FMNB correlations · VXX correlations
