FNLC vs VXZ: Correlation
Measured on weekly returns over the past three years, First Bancorp, Inc (ME) (FNLC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNLC and VXZ?
Over the past 3 years, FNLC and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -288.0 %².
Out of 17 assets tracked against FNLC, VXZ lands near the bottom at #17. Their recent paths diverged sharply: over the last 12 months FNLC outperformed by 49.5 percentage points (+33.4% for FNLC 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.
FNLC vs VXZ: side by side
| FNLC (First Bancorp, Inc (ME)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.4% | -16.1% |
| 5-year return | +51.0% | -53.1% |
| Volatility (ann.) | 29.5% | 25.6% |
| Beta vs S&P 500 | 0.46 | -1.31 |
| Max drawdown (3Y) | -25.0% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 4.32% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNLC | VXZ |
|---|---|---|
| 2022 | -0.4% | +0.5% |
| 2023 | -0.5% | -44.0% |
| 2024 | +2.5% | -12.7% |
| 2025 | +2.3% | +5.7% |
| 2026 | +35.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNLC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNLC and VXZ?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.29 over the last year and -0.38 over 5 years.
Is VXZ a good diversifier for FNLC?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
A reading of -0.38 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/fnlc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fnlc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNLC correlations · VXZ correlations
