HIFS vs VXX: Correlation
How closely do Hingham Institution for Savings (HIFS) 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 -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIFS and VXX?
Over the past 3 years, HIFS and VXX moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -879.5 %².
Out of 10 assets tracked against HIFS, VXX lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with HIFS ahead by 52.3 points (+2.6% versus -49.7%). One caveat on sizing: VXX is 1.5 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.
HIFS vs VXX: side by side
| HIFS (Hingham Institution for Savings) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.6% | -49.7% |
| 5-year return | -2.0% | -95.6% |
| Volatility (ann.) | 40.5% | 60.9% |
| Beta vs S&P 500 | 1.05 | -3.31 |
| Max drawdown (3Y) | -27.8% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 10.0 | – |
| Dividend yield | 0.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HIFS | VXX |
|---|---|---|
| 2022 | -33.6% | -23.8% |
| 2023 | -28.6% | -72.5% |
| 2024 | +31.9% | -26.2% |
| 2025 | +12.8% | -42.2% |
| 2026 | +6.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIFS and VXX good diversifiers for each other?
Yes. With a correlation of -0.36, HIFS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HIFS and VXX?
As of 2026-08-27, the correlation of weekly returns between HIFS and VXX is -0.36 over 3 years, -0.33 over 1 year and -0.36 over 5 years.
Is VXX a good diversifier for HIFS?
Yes. With a correlation of -0.36, HIFS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
A reading of -0.36 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/hifs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hifs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HIFS correlations · VXX correlations
