FRPH vs VXX: Correlation
Measured on weekly returns over the past three years, FRP Holdings, Inc. (FRPH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRPH and VXX?
Over the past 3 years, FRPH and VXX moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.35). Over 5 years the correlation is -0.29, and the annualized covariance of weekly returns is -426.4 %².
Out of 11 assets tracked against FRPH, VXX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months FRPH outperformed by 35.8 percentage points (-13.9% for FRPH against -49.7% for VXX). Risk is not evenly split, since VXX carries 3.0 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.
FRPH vs VXX: side by side
| FRPH (FRP Holdings, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -13.9% | -49.7% |
| 5-year return | -22.9% | -95.6% |
| Volatility (ann.) | 20.1% | 60.9% |
| Beta vs S&P 500 | 0.38 | -3.31 |
| Max drawdown (3Y) | -36.2% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 2223.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRPH | VXX |
|---|---|---|
| 2022 | -6.8% | -23.8% |
| 2023 | +16.7% | -72.5% |
| 2024 | -2.6% | -26.2% |
| 2025 | -25.6% | -42.2% |
| 2026 | -2.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRPH and VXX good diversifiers for each other?
Yes. With a correlation of -0.35, FRPH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRPH and VXX?
The FRPH/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.10, 5 years: -0.29), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for FRPH?
Yes. With a correlation of -0.35, FRPH and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/frph-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frph-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRPH correlations · VXX correlations
