FSBW vs VXX: Correlation
Measured on weekly returns over the past three years, FS Bancorp, Inc. (FSBW) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSBW and VXX?
Over the past 3 years, FSBW and VXX moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.18) than the 3-year average (-0.40). Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -667.6 %².
VXX is close to the least connected end of FSBW's tracked universe, ranking #22 of 23. The last year tells two different stories: FSBW led by 53.2 percentage points, +3.5% for FSBW against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.2 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.
FSBW vs VXX: side by side
| FSBW (FS Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.5% | -49.7% |
| 5-year return | +47.7% | -95.6% |
| Volatility (ann.) | 27.5% | 60.9% |
| Beta vs S&P 500 | 0.69 | -3.31 |
| Max drawdown (3Y) | -26.1% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 9.7 | – |
| Dividend yield | 2.69% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSBW | VXX |
|---|---|---|
| 2022 | +2.4% | -23.8% |
| 2023 | +14.1% | -72.5% |
| 2024 | +14.3% | -26.2% |
| 2025 | +3.7% | -42.2% |
| 2026 | +5.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSBW and VXX good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FSBW and VXX?
As of 2026-08-27, the correlation of weekly returns between FSBW and VXX is -0.40 over 3 years, -0.18 over 1 year and -0.38 over 5 years.
Is VXX a good diversifier for FSBW?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
A reading of -0.40 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/fsbw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fsbw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FSBW correlations · VXX correlations
