FNB vs VXX: Correlation
Measured on weekly returns over the past three years, F.N.B. Corporation (FNB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.61, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNB and VXX?
Over the past 3 years, FNB and VXX moved with a correlation of -0.61, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.34) runs above the 3-year figure (-0.61). Over 5 years the correlation is -0.54, and the annualized covariance of weekly returns is -1016.5 %².
VXX is close to the least connected end of FNB's tracked universe, ranking #52 of 53. The last year tells two different stories: FNB led by 63.1 percentage points, +13.4% for FNB against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.2 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.
FNB vs VXX: side by side
| FNB (F.N.B. Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.4% | -49.7% |
| 5-year return | +91.1% | -95.6% |
| Volatility (ann.) | 27.4% | 60.9% |
| Beta vs S&P 500 | 1.03 | -3.31 |
| Max drawdown (3Y) | -32.6% | -83.3% |
| Market cap | $6.6B | – |
| P/E (trailing) | 11.0 | – |
| Dividend yield | 2.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNB | VXX |
|---|---|---|
| 2022 | +11.7% | -23.8% |
| 2023 | +9.8% | -72.5% |
| 2024 | +11.0% | -26.2% |
| 2025 | +19.4% | -42.2% |
| 2026 | +9.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNB and VXX good diversifiers for each other?
Yes: at -0.61, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNB and VXX?
The FNB/VXX correlation stands at -0.61 on a 3-year window (1 year: -0.34, 5 years: -0.54), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for FNB?
Yes: at -0.61, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.61 mean?
A reading of -0.61 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fnb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fnb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNB correlations · VXX correlations
