OFG vs VXX: Correlation
OFG Bancorp (OFG) 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 OFG and VXX?
Across a 3-year window, the weekly returns of OFG 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 -0.05 versus -0.43 over 3 years. Stretching to 5 years gives -0.40, with an annualized covariance of -712.9 %².
VXX is close to the least connected end of OFG's tracked universe, ranking #11 of 12. Correlation aside, the last 12 months split them widely, with OFG ahead by 68.5 points (+18.8% versus -49.7%). Risk is not evenly split, since VXX carries 2.2 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.
OFG vs VXX: side by side
| OFG (OFG Bancorp) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +18.8% | -49.7% |
| 5-year return | +150.6% | -95.6% |
| Volatility (ann.) | 27.3% | 60.9% |
| Beta vs S&P 500 | 0.74 | -3.31 |
| Max drawdown (3Y) | -24.6% | -83.3% |
| Market cap | $2.2B | – |
| P/E (trailing) | 10.3 | – |
| Dividend yield | 2.49% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OFG | VXX |
|---|---|---|
| 2022 | +6.5% | -23.8% |
| 2023 | +40.2% | -72.5% |
| 2024 | +15.8% | -26.2% |
| 2025 | -1.1% | -42.2% |
| 2026 | +29.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OFG 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 OFG and VXX?
The OFG/VXX correlation stands at -0.43 on a 3-year window (1 year: -0.05, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for OFG?
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?
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/ofg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ofg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OFG correlations · VXX correlations
