FTAI vs VXX: Correlation
FTAI Aviation Ltd. (FTAI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTAI and VXX?
Over the past 3 years, FTAI and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.27 over 3 years. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -975.5 %².
VXX is close to the least connected end of FTAI's tracked universe, ranking #10 of 10. Their recent paths diverged sharply: over the last 12 months FTAI outperformed by 83.8 percentage points (+34.1% for FTAI against -49.7% for VXX).
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.
FTAI vs VXX: side by side
| FTAI (FTAI Aviation Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.1% | -49.7% |
| 5-year return | +884.3% | -95.6% |
| Volatility (ann.) | 59.0% | 60.9% |
| Beta vs S&P 500 | 1.11 | -3.31 |
| Max drawdown (3Y) | -52.1% | -83.3% |
| Market cap | $20.5B | – |
| P/E (trailing) | 43.8 | – |
| Dividend yield | 0.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTAI | VXX |
|---|---|---|
| 2022 | -25.8% | -23.8% |
| 2023 | +181.6% | -72.5% |
| 2024 | +214.7% | -26.2% |
| 2025 | +38.0% | -42.2% |
| 2026 | +1.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTAI and VXX good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FTAI and VXX?
As of 2026-08-27, the correlation of weekly returns between FTAI and VXX is -0.27 over 3 years, -0.39 over 1 year and -0.33 over 5 years.
Is VXX a good diversifier for FTAI?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 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/ftai-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftai-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FTAI correlations · VXX correlations
