OBT vs VXX: Correlation
How closely do Orange County Bancorp, Inc. (OBT) 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 -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OBT and VXX?
On 3 years of weekly data the OBT/VXX correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.25) runs above the 3-year figure (-0.36). The 5-year figure is -0.24, and annualized covariance runs at -850.2 %².
VXX is close to the least connected end of OBT's tracked universe, ranking #10 of 11. The last year tells two different stories: OBT led by 95.4 percentage points, +45.7% for OBT against -49.7% for VXX. Risk is not evenly split, since VXX carries 1.6 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.
OBT vs VXX: side by side
| OBT (Orange County Bancorp, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +45.7% | -49.7% |
| 5-year return | +143.9% | -95.6% |
| Volatility (ann.) | 38.3% | 60.9% |
| Beta vs S&P 500 | 0.83 | -3.31 |
| Max drawdown (3Y) | -32.5% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 10.6 | – |
| Dividend yield | 1.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OBT | VXX |
|---|---|---|
| 2022 | +18.3% | -23.8% |
| 2023 | +32.1% | -72.5% |
| 2024 | -6.1% | -26.2% |
| 2025 | +5.0% | -42.2% |
| 2026 | +34.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OBT and VXX good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OBT and VXX?
The OBT/VXX correlation stands at -0.36 on a 3-year window (1 year: -0.25, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OBT?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 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/obt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/obt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OBT correlations · VXX correlations
