FRST vs VXX: Correlation
Measured on weekly returns over the past three years, Primis Financial Corp. (FRST) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRST and VXX?
Across a 3-year window, the weekly returns of FRST and VXX correlate at -0.49, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.22) runs above the 3-year figure (-0.49). Stretching to 5 years gives -0.42, with an annualized covariance of -989.2 %².
Among the 11 assets we track against FRST, VXX sits near the bottom by co-movement, at rank #10. The last year tells two different stories: FRST led by 95.9 percentage points, +46.2% for FRST against -49.7% for VXX. One caveat on sizing: VXX is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FRST vs VXX: side by side
| FRST (Primis Financial Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +46.2% | -49.7% |
| 5-year return | +26.9% | -95.6% |
| Volatility (ann.) | 33.3% | 60.9% |
| Beta vs S&P 500 | 0.88 | -3.31 |
| Max drawdown (3Y) | -39.3% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 7.4 | – |
| Dividend yield | 2.48% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRST | VXX |
|---|---|---|
| 2022 | -18.8% | -23.8% |
| 2023 | +11.5% | -72.5% |
| 2024 | -4.7% | -26.2% |
| 2025 | +23.9% | -42.2% |
| 2026 | +16.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRST and VXX good diversifiers for each other?
Yes. With a correlation of -0.49, FRST and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRST and VXX?
The FRST/VXX correlation stands at -0.49 on a 3-year window (1 year: -0.22, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for FRST?
Yes. With a correlation of -0.49, FRST and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.49 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/frst-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frst-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRST correlations · VXX correlations
