FXNC vs VXX: Correlation
First National Corporation (FXNC) 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 -0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXNC and VXX?
On 3 years of weekly data the FXNC/VXX correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. The 5-year figure is -0.27, and annualized covariance runs at -479.0 %².
Out of 13 assets tracked against FXNC, VXX lands near the bottom at #12. The last year tells two different stories: FXNC led by 85.6 percentage points, +35.9% for FXNC 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.
FXNC vs VXX: side by side
| FXNC (First National Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.9% | -49.7% |
| 5-year return | +71.2% | -95.6% |
| Volatility (ann.) | 27.4% | 60.9% |
| Beta vs S&P 500 | 0.50 | -3.31 |
| Max drawdown (3Y) | -31.6% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 2.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FXNC | VXX |
|---|---|---|
| 2022 | -23.3% | -23.8% |
| 2023 | +31.5% | -72.5% |
| 2024 | +9.3% | -26.2% |
| 2025 | +12.7% | -42.2% |
| 2026 | +24.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXNC and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FXNC and VXX?
As of 2026-08-27, the correlation of weekly returns between FXNC and VXX is -0.29 over 3 years, -0.22 over 1 year and -0.27 over 5 years.
Is VXX a good diversifier for FXNC?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/fxnc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fxnc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FXNC correlations · VXX correlations
