FMST vs VXX: Correlation
Measured on weekly returns over the past three years, Foremost Clean Energy Ltd. (FMST) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMST and VXX?
Over the past 3 years, FMST and VXX moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -1740.6 %².
Among the 12 assets we track against FMST, VXX sits near the bottom by co-movement, at rank #10. The trailing year gives VXX the advantage: -62.5% versus -49.7%, a 12.8-point spread. Note the risk asymmetry: FMST runs 1.9 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.
FMST vs VXX: side by side
| FMST (Foremost Clean Energy Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -62.5% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 118.7% | 60.9% |
| Beta vs S&P 500 | 2.68 | -3.31 |
| Max drawdown (3Y) | -86.7% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMST | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -72.5% |
| 2024 | -44.8% | -26.2% |
| 2025 | +53.6% | -42.2% |
| 2026 | -44.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMST and VXX good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FMST and VXX?
As of 2026-08-27, the correlation of weekly returns between FMST and VXX is -0.24 over 3 years, -0.24 over 1 year and n/a over 5 years.
Is VXX a good diversifier for FMST?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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/fmst-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmst-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FMST correlations · VXX correlations
