FTCI vs VXX: Correlation
FTC Solar, Inc. (FTCI) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTCI and VXX?
On 3 years of weekly data the FTCI/VXX correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.51) than the 3-year average (-0.26). The 5-year figure is -0.24, and annualized covariance runs at -1912.5 %².
VXX is close to the least connected end of FTCI's tracked universe, ranking #12 of 12. The trailing year gives VXX the advantage: -62.4% versus -49.7%, a 12.7-point spread. Risk is not evenly split, since FTCI carries 2.0 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.
FTCI vs VXX: side by side
| FTCI (FTC Solar, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -62.4% | -49.7% |
| 5-year return | -97.8% | -95.6% |
| Volatility (ann.) | 122.6% | 60.9% |
| Beta vs S&P 500 | 2.61 | -3.31 |
| Max drawdown (3Y) | -90.4% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTCI | VXX |
|---|---|---|
| 2022 | -64.6% | -23.8% |
| 2023 | -74.1% | -72.5% |
| 2024 | -20.5% | -26.2% |
| 2025 | +98.0% | -42.2% |
| 2026 | -77.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTCI and VXX good diversifiers for each other?
Yes. With a correlation of -0.26, FTCI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FTCI and VXX?
As of 2026-08-27, the correlation of weekly returns between FTCI and VXX is -0.26 over 3 years, -0.51 over 1 year and -0.24 over 5 years.
Is VXX a good diversifier for FTCI?
Yes. With a correlation of -0.26, FTCI and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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/ftci-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftci-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FTCI correlations · VXX correlations
