FRST vs VXZ: Correlation
Measured on weekly returns over the past three years, Primis Financial Corp. (FRST) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRST and VXZ?
Over the past 3 years, FRST and VXZ moved with a correlation of -0.50, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.31) runs above the 3-year figure (-0.50). Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -426.3 %².
VXZ is close to the least connected end of FRST's tracked universe, ranking #11 of 11. The last year tells two different stories: FRST led by 62.3 percentage points, +46.2% for FRST 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.
FRST vs VXZ: side by side
| FRST (Primis Financial Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +46.2% | -16.1% |
| 5-year return | +26.9% | -53.1% |
| Volatility (ann.) | 33.3% | 25.6% |
| Beta vs S&P 500 | 0.88 | -1.31 |
| Max drawdown (3Y) | -39.3% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 7.4 | – |
| Dividend yield | 2.48% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRST | VXZ |
|---|---|---|
| 2022 | -18.8% | +0.5% |
| 2023 | +11.5% | -44.0% |
| 2024 | -4.7% | -12.7% |
| 2025 | +23.9% | +5.7% |
| 2026 | +16.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRST and VXZ good diversifiers for each other?
Yes. With a correlation of -0.50, FRST and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRST and VXZ?
The FRST/VXZ correlation stands at -0.50 on a 3-year window (1 year: -0.31, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for FRST?
Yes. With a correlation of -0.50, FRST and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.50 mean?
On the −1 to +1 scale, -0.50 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/frst-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frst-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRST correlations · VXZ correlations
