HNVR vs VXX: Correlation
How closely do Hanover Bancorp, Inc. (HNVR) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HNVR and VXX?
Over the past 3 years, HNVR and VXX moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.31). Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -518.4 %².
VXX is close to the least connected end of HNVR's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with HNVR ahead by 72.7 points (+23.0% versus -49.7%). 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.
HNVR vs VXX: side by side
| HNVR (Hanover Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.0% | -49.7% |
| 5-year return | +40.1% | -95.6% |
| Volatility (ann.) | 27.1% | 60.9% |
| Beta vs S&P 500 | 0.50 | -3.31 |
| Max drawdown (3Y) | -28.2% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | 21.3 | – |
| Dividend yield | 1.48% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HNVR | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | -11.6% | -72.5% |
| 2024 | +33.7% | -26.2% |
| 2025 | +2.0% | -42.2% |
| 2026 | +18.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HNVR and VXX good diversifiers for each other?
Yes. With a correlation of -0.31, HNVR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HNVR and VXX?
As of 2026-08-27, the correlation of weekly returns between HNVR and VXX is -0.31 over 3 years, -0.14 over 1 year and -0.23 over 5 years.
Is VXX a good diversifier for HNVR?
Yes. With a correlation of -0.31, HNVR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/hnvr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hnvr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HNVR correlations · VXX correlations
