HBT vs VXX: Correlation
HBT Financial, Inc. (HBT) 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 -0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBT and VXX?
Over the past 3 years, HBT and VXX moved with a correlation of -0.51, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.35) than the 3-year average (-0.51). Over 5 years the correlation is -0.45, and the annualized covariance of weekly returns is -822.8 %².
Out of 17 assets tracked against HBT, VXX lands near the bottom at #16. The last year tells two different stories: HBT led by 88.0 percentage points, +38.3% for HBT against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
HBT vs VXX: side by side
| HBT (HBT Financial, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +38.3% | -49.7% |
| 5-year return | +160.4% | -95.6% |
| Volatility (ann.) | 26.7% | 60.9% |
| Beta vs S&P 500 | 0.80 | -3.31 |
| Max drawdown (3Y) | -18.7% | -83.3% |
| Market cap | $1.3B | – |
| P/E (trailing) | 15.2 | – |
| Dividend yield | 2.47% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBT | VXX |
|---|---|---|
| 2022 | +8.1% | -23.8% |
| 2023 | +11.7% | -72.5% |
| 2024 | +7.7% | -26.2% |
| 2025 | +22.2% | -42.2% |
| 2026 | +41.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.51 means the two rarely move for the same reasons.
FAQ
What is the correlation between HBT and VXX?
The HBT/VXX correlation stands at -0.51 on a 3-year window (1 year: -0.35, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for HBT?
By historical standards, yes. A correlation of -0.51 means the two rarely move for the same reasons.
What does a correlation of -0.51 mean?
On the −1 to +1 scale, -0.51 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/hbt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hbt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HBT correlations · VXX correlations
