MYFW vs VXX: Correlation
First Western Financial, Inc. (MYFW) 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 -0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MYFW and VXX?
Across a 3-year window, the weekly returns of MYFW and VXX correlate at -0.46, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.44) sits close to the 3-year figure. Stretching to 5 years gives -0.40, with an annualized covariance of -968.9 %².
Out of 12 assets tracked against MYFW, VXX lands near the bottom at #11. The last year tells two different stories: MYFW led by 82.8 percentage points, +33.1% for MYFW against -49.7% for VXX. One caveat on sizing: VXX is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MYFW vs VXX: side by side
| MYFW (First Western Financial, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +33.1% | -49.7% |
| 5-year return | +13.7% | -95.6% |
| Volatility (ann.) | 34.7% | 60.9% |
| Beta vs S&P 500 | 1.08 | -3.31 |
| Max drawdown (3Y) | -37.4% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 16.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MYFW | VXX |
|---|---|---|
| 2022 | -7.3% | -23.8% |
| 2023 | -29.6% | -72.5% |
| 2024 | -1.4% | -26.2% |
| 2025 | +37.1% | -42.2% |
| 2026 | +15.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MYFW and VXX good diversifiers for each other?
Yes. With a correlation of -0.46, MYFW and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MYFW and VXX?
The MYFW/VXX correlation stands at -0.46 on a 3-year window (1 year: -0.44, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MYFW?
Yes. With a correlation of -0.46, MYFW and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.46 mean?
A reading of -0.46 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/myfw-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/myfw-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MYFW correlations · VXX correlations
