HWC vs VXX: Correlation
Measured on weekly returns over the past three years, Hancock Whitney Corporation (HWC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.53, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWC and VXX?
Across a 3-year window, the weekly returns of HWC and VXX correlate at -0.53, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.27) than the 3-year average (-0.53). Stretching to 5 years gives -0.49, with an annualized covariance of -1000.0 %².
VXX is close to the least connected end of HWC's tracked universe, ranking #33 of 34. Their recent paths diverged sharply: over the last 12 months HWC outperformed by 71.3 percentage points (+21.6% for HWC against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.0 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.
HWC vs VXX: side by side
| HWC (Hancock Whitney Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.6% | -49.7% |
| 5-year return | +89.0% | -95.6% |
| Volatility (ann.) | 30.7% | 60.9% |
| Beta vs S&P 500 | 1.03 | -3.31 |
| Max drawdown (3Y) | -23.9% | -83.3% |
| Market cap | $6.0B | – |
| P/E (trailing) | 14.7 | – |
| Dividend yield | 2.53% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWC | VXX |
|---|---|---|
| 2022 | -1.2% | -23.8% |
| 2023 | +3.3% | -72.5% |
| 2024 | +16.1% | -26.2% |
| 2025 | +20.0% | -42.2% |
| 2026 | +19.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWC and VXX good diversifiers for each other?
Yes. With a correlation of -0.53, HWC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HWC and VXX?
As of 2026-08-27, the correlation of weekly returns between HWC and VXX is -0.53 over 3 years, -0.27 over 1 year and -0.49 over 5 years.
Is VXX a good diversifier for HWC?
Yes. With a correlation of -0.53, HWC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.53 mean?
On the −1 to +1 scale, -0.53 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/hwc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: HWC correlations · VXX correlations
