GABC vs VXX: Correlation
How closely do German American Bancorp, Inc. (GABC) 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 -0.45, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GABC and VXX?
Across a 3-year window, the weekly returns of GABC and VXX correlate at -0.45, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.24) runs above the 3-year figure (-0.45). Stretching to 5 years gives -0.39, with an annualized covariance of -690.2 %².
Among the 15 assets we track against GABC, VXX sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months GABC outperformed by 71.2 percentage points (+21.5% for GABC against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.4 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.
GABC vs VXX: side by side
| GABC (German American Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.5% | -49.7% |
| 5-year return | +55.3% | -95.6% |
| Volatility (ann.) | 25.1% | 60.9% |
| Beta vs S&P 500 | 0.62 | -3.31 |
| Max drawdown (3Y) | -25.3% | -83.3% |
| Market cap | $1.9B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 2.46% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GABC | VXX |
|---|---|---|
| 2022 | -2.0% | -23.8% |
| 2023 | -10.2% | -72.5% |
| 2024 | +27.9% | -26.2% |
| 2025 | +0.3% | -42.2% |
| 2026 | +29.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GABC and VXX good diversifiers for each other?
Yes. With a correlation of -0.45, GABC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GABC and VXX?
Using weekly returns as of 2026-08-27: -0.45 over 3 years, with -0.24 over the last year and -0.39 over 5 years.
Is VXX a good diversifier for GABC?
Yes. With a correlation of -0.45, GABC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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/gabc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gabc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GABC correlations · VXX correlations
