FNF vs VXX: Correlation
Fidelity National Financial, Inc. (FNF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNF and VXX?
On 3 years of weekly data the FNF/VXX correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.20) than the 3-year average (-0.35). The 5-year figure is -0.42, and annualized covariance runs at -534.6 %².
VXX is close to the least connected end of FNF's tracked universe, ranking #13 of 14. Their recent paths diverged sharply: over the last 12 months FNF outperformed by 34.0 percentage points (-15.7% for FNF against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.5 times the volatility of the other side.
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.
FNF vs VXX: side by side
| FNF (Fidelity National Financial, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -15.7% | -49.7% |
| 5-year return | +27.3% | -95.6% |
| Volatility (ann.) | 24.8% | 60.9% |
| Beta vs S&P 500 | 0.66 | -3.31 |
| Max drawdown (3Y) | -30.0% | -83.3% |
| Market cap | $12.7B | – |
| P/E (trailing) | 16.5 | – |
| Dividend yield | 4.34% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNF | VXX |
|---|---|---|
| 2022 | -21.6% | -23.8% |
| 2023 | +42.2% | -72.5% |
| 2024 | +14.0% | -26.2% |
| 2025 | +4.4% | -42.2% |
| 2026 | -11.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNF and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNF and VXX?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.20 over the last year and -0.42 over 5 years.
Is VXX a good diversifier for FNF?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 mean?
A reading of -0.35 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/fnf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fnf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNF correlations · VXX correlations
