IBCP vs VXX: Correlation
Independent Bank Corporation (IBCP) 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 -0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IBCP and VXX?
Across a 3-year window, the weekly returns of IBCP and VXX correlate at -0.43, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.43 over 3 years. Stretching to 5 years gives -0.38, with an annualized covariance of -755.3 %².
VXX is close to the least connected end of IBCP's tracked universe, ranking #14 of 15. Correlation aside, the last 12 months split them widely, with IBCP ahead by 63.4 points (+13.7% versus -49.7%). Note the risk asymmetry: VXX runs 2.1 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.
IBCP vs VXX: side by side
| IBCP (Independent Bank Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.7% | -49.7% |
| 5-year return | +112.7% | -95.6% |
| Volatility (ann.) | 28.7% | 60.9% |
| Beta vs S&P 500 | 0.77 | -3.31 |
| Max drawdown (3Y) | -27.5% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 2.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IBCP | VXX |
|---|---|---|
| 2022 | +4.3% | -23.8% |
| 2023 | +14.0% | -72.5% |
| 2024 | +38.5% | -26.2% |
| 2025 | -3.5% | -42.2% |
| 2026 | +15.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IBCP and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between IBCP and VXX?
The IBCP/VXX correlation stands at -0.43 on a 3-year window (1 year: -0.20, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for IBCP?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
On the −1 to +1 scale, -0.43 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/ibcp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ibcp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IBCP correlations · VXX correlations
