FRBA vs VXX: Correlation
First Bank (FRBA) 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 -0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRBA and VXX?
Over the past 3 years, FRBA and VXX moved with a correlation of -0.41, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.41 over 3 years. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -667.9 %².
VXX is close to the least connected end of FRBA's tracked universe, ranking #13 of 14. Their recent paths diverged sharply: over the last 12 months FRBA outperformed by 58.6 percentage points (+8.9% for FRBA against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.3 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.
FRBA vs VXX: side by side
| FRBA (First Bank) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.9% | -49.7% |
| 5-year return | +47.4% | -95.6% |
| Volatility (ann.) | 26.6% | 60.9% |
| Beta vs S&P 500 | 0.61 | -3.31 |
| Max drawdown (3Y) | -22.0% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 10.4 | – |
| Dividend yield | 1.67% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRBA | VXX |
|---|---|---|
| 2022 | -3.6% | -23.8% |
| 2023 | +9.1% | -72.5% |
| 2024 | -2.6% | -26.2% |
| 2025 | +18.8% | -42.2% |
| 2026 | +10.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRBA and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRBA and VXX?
Using weekly returns as of 2026-08-27: -0.41 over 3 years, with -0.20 over the last year and -0.37 over 5 years.
Is VXX a good diversifier for FRBA?
By historical standards, yes. A correlation of -0.41 means the two rarely move for the same reasons.
What does a correlation of -0.41 mean?
A reading of -0.41 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/frba-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frba-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRBA correlations · VXX correlations
