LNC vs VXX: Correlation
How closely do Lincoln National Corporation (LNC) 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 -0.53, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LNC and VXX?
Over the past 3 years, LNC and VXX moved with a correlation of -0.53, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.26 versus -0.53 over 3 years. Over 5 years the correlation is -0.46, and the annualized covariance of weekly returns is -1091.8 %².
VXX is close to the least connected end of LNC's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months LNC outperformed by 57.1 percentage points (+7.4% for LNC against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.8 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.
LNC vs VXX: side by side
| LNC (Lincoln National Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.4% | -49.7% |
| 5-year return | -18.1% | -95.6% |
| Volatility (ann.) | 33.9% | 60.9% |
| Beta vs S&P 500 | 1.14 | -3.31 |
| Max drawdown (3Y) | -29.1% | -83.3% |
| Market cap | $8.3B | – |
| P/E (trailing) | 3.7 | – |
| Dividend yield | 4.16% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LNC | VXX |
|---|---|---|
| 2022 | -53.5% | -23.8% |
| 2023 | -5.6% | -72.5% |
| 2024 | +24.8% | -26.2% |
| 2025 | +48.0% | -42.2% |
| 2026 | +1.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LNC and VXX good diversifiers for each other?
Yes. With a correlation of -0.53, LNC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LNC and VXX?
As of 2026-08-27, the correlation of weekly returns between LNC and VXX is -0.53 over 3 years, -0.26 over 1 year and -0.46 over 5 years.
Is VXX a good diversifier for LNC?
Yes. With a correlation of -0.53, LNC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.53 mean?
A reading of -0.53 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/lnc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lnc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LNC correlations · VXX correlations
