FT vs VXX: Correlation
How closely do Franklin Universal Trust (FT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.42, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FT and VXX?
Across a 3-year window, the weekly returns of FT and VXX correlate at -0.42, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. Stretching to 5 years gives -0.37, with an annualized covariance of -272.0 %².
VXX is close to the least connected end of FT's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months FT outperformed by 54.5 percentage points (+4.8% for FT against -49.7% for VXX). Risk is not evenly split, since VXX carries 5.8 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.
FT vs VXX: side by side
| FT (Franklin Universal Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.8% | -49.7% |
| 5-year return | +31.6% | -95.6% |
| Volatility (ann.) | 10.5% | 60.9% |
| Beta vs S&P 500 | 0.32 | -3.31 |
| Max drawdown (3Y) | -10.6% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 6.0 | – |
| Dividend yield | 6.58% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FT | VXX |
|---|---|---|
| 2022 | -14.0% | -23.8% |
| 2023 | +6.6% | -72.5% |
| 2024 | +18.4% | -26.2% |
| 2025 | +17.0% | -42.2% |
| 2026 | +1.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FT and VXX good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FT and VXX?
As of 2026-08-27, the correlation of weekly returns between FT and VXX is -0.42 over 3 years, -0.34 over 1 year and -0.37 over 5 years.
Is VXX a good diversifier for FT?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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/ft-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ft-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FT correlations · VXX correlations
