FMNB vs VXZ: Correlation
Measured on weekly returns over the past three years, Farmers National Banc Corp. (FMNB) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMNB and VXZ?
Across a 3-year window, the weekly returns of FMNB and VXZ correlate at -0.45, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.39 lands near the 3-year figure. Stretching to 5 years gives -0.39, with an annualized covariance of -319.5 %².
Out of 20 assets tracked against FMNB, VXZ lands near the bottom at #20. The last year tells two different stories: FMNB led by 26.4 percentage points, +10.3% for FMNB 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.
FMNB vs VXZ: side by side
| FMNB (Farmers National Banc Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +10.3% | -16.1% |
| 5-year return | +27.6% | -53.1% |
| Volatility (ann.) | 27.7% | 25.6% |
| Beta vs S&P 500 | 0.71 | -1.31 |
| Max drawdown (3Y) | -23.6% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 4.34% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMNB | VXZ |
|---|---|---|
| 2022 | -20.6% | +0.5% |
| 2023 | +7.8% | -44.0% |
| 2024 | +3.4% | -12.7% |
| 2025 | -1.7% | +5.7% |
| 2026 | +21.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMNB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.45, FMNB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FMNB and VXZ?
The FMNB/VXZ correlation stands at -0.45 on a 3-year window (1 year: -0.39, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FMNB?
Yes. With a correlation of -0.45, FMNB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 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/fmnb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmnb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FMNB correlations · VXZ correlations
