FNLC vs VXX: Correlation
How closely do First Bancorp, Inc (ME) (FNLC) 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 -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNLC and VXX?
Over the past 3 years, FNLC and VXX moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.07) runs above the 3-year figure (-0.34). Over 5 years the correlation is -0.35, and the annualized covariance of weekly returns is -604.3 %².
Out of 17 assets tracked against FNLC, VXX lands near the bottom at #16. Correlation aside, the last 12 months split them widely, with FNLC ahead by 83.1 points (+33.4% versus -49.7%). Risk is not evenly split, since VXX carries 2.1 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.
FNLC vs VXX: side by side
| FNLC (First Bancorp, Inc (ME)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.4% | -49.7% |
| 5-year return | +51.0% | -95.6% |
| Volatility (ann.) | 29.5% | 60.9% |
| Beta vs S&P 500 | 0.46 | -3.31 |
| Max drawdown (3Y) | -25.0% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 4.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNLC | VXX |
|---|---|---|
| 2022 | -0.4% | -23.8% |
| 2023 | -0.5% | -72.5% |
| 2024 | +2.5% | -26.2% |
| 2025 | +2.3% | -42.2% |
| 2026 | +35.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNLC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNLC and VXX?
As of 2026-08-27, the correlation of weekly returns between FNLC and VXX is -0.34 over 3 years, -0.07 over 1 year and -0.35 over 5 years.
Is VXX a good diversifier for FNLC?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/fnlc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fnlc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FNLC correlations · VXX correlations
