FTV vs VXX: Correlation
Fortive (FTV) 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 -0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and VXX?
Over the past 3 years, FTV and VXX moved with a correlation of -0.47, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.47). Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -687.4 %².
VXX is close to the least connected end of FTV's tracked universe, ranking #36 of 36. Correlation aside, the last 12 months split them widely, with FTV ahead by 73.6 points (+23.9% versus -49.7%). One caveat on sizing: VXX is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FTV vs VXX: side by side
| FTV (Fortive) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.9% | -49.7% |
| 5-year return | +9.6% | -95.6% |
| Volatility (ann.) | 23.8% | 60.9% |
| Beta vs S&P 500 | 0.92 | -3.31 |
| Max drawdown (3Y) | -28.0% | -83.3% |
| Market cap | $18.1B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 0.20% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FTV | VXX |
|---|---|---|
| 2022 | -15.4% | -23.8% |
| 2023 | +15.1% | -72.5% |
| 2024 | +2.3% | -26.2% |
| 2025 | -1.9% | -42.2% |
| 2026 | +8.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTV and VXX good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FTV and VXX?
As of 2026-08-27, the correlation of weekly returns between FTV and VXX is -0.47 over 3 years, -0.25 over 1 year and -0.45 over 5 years.
Is VXX a good diversifier for FTV?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 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/ftv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FTV correlations · VXX correlations
