FRD vs VXX: Correlation
Friedman Industries Inc. (FRD) 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 -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRD and VXX?
Over the past 3 years, FRD and VXX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.26 over 1 year against -0.23 over 3. Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -687.2 %².
Among the 12 assets we track against FRD, VXX sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with FRD ahead by 187.5 points (+137.8% versus -49.7%).
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.
FRD vs VXX: side by side
| FRD (Friedman Industries Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +137.8% | -49.7% |
| 5-year return | +282.9% | -95.6% |
| Volatility (ann.) | 50.1% | 60.9% |
| Beta vs S&P 500 | 1.10 | -3.31 |
| Max drawdown (3Y) | -34.6% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 0.38% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRD | VXX |
|---|---|---|
| 2022 | +5.3% | -23.8% |
| 2023 | +59.0% | -72.5% |
| 2024 | -0.3% | -26.2% |
| 2025 | +35.3% | -42.2% |
| 2026 | +120.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRD and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRD and VXX?
As of 2026-08-27, the correlation of weekly returns between FRD and VXX is -0.23 over 3 years, -0.26 over 1 year and -0.25 over 5 years.
Is VXX a good diversifier for FRD?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/frd-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frd-vs-vxx/)
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Related comparisons
Hubs: FRD correlations · VXX correlations
