LOB vs VXX: Correlation
Live Oak Bancshares, Inc. (LOB) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOB and VXX?
Across a 3-year window, the weekly returns of LOB and VXX correlate at -0.42, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.42 over 3. Stretching to 5 years gives -0.40, with an annualized covariance of -1084.8 %².
Out of 11 assets tracked against LOB, VXX lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months LOB outperformed by 53.5 percentage points (+3.8% for LOB against -49.7% for VXX).
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.
LOB vs VXX: side by side
| LOB (Live Oak Bancshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.8% | -49.7% |
| 5-year return | -33.6% | -95.6% |
| Volatility (ann.) | 42.3% | 60.9% |
| Beta vs S&P 500 | 1.11 | -3.31 |
| Max drawdown (3Y) | -53.8% | -83.3% |
| Market cap | $1.9B | – |
| P/E (trailing) | 14.0 | – |
| Dividend yield | 0.30% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOB | VXX |
|---|---|---|
| 2022 | -65.3% | -23.8% |
| 2023 | +51.3% | -72.5% |
| 2024 | -12.8% | -26.2% |
| 2025 | -12.8% | -42.2% |
| 2026 | +16.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOB and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, LOB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LOB and VXX?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.34 over the last year and -0.40 over 5 years.
Is VXX a good diversifier for LOB?
Yes. With a correlation of -0.42, LOB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lob-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lob-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LOB correlations · VXX correlations
