ORRF vs VXZ: Correlation
Measured on weekly returns over the past three years, Orrstown Financial Services, Inc. (ORRF) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORRF and VXZ?
On 3 years of weekly data the ORRF/VXZ correlation comes out at -0.50, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. The 5-year figure is -0.40, and annualized covariance runs at -364.7 %².
VXZ is close to the least connected end of ORRF's tracked universe, ranking #17 of 17. The last year tells two different stories: ORRF led by 40.7 percentage points, +24.6% for ORRF against -16.1% for VXZ.
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.
ORRF vs VXZ: side by side
| ORRF (Orrstown Financial Services, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.6% | -16.1% |
| 5-year return | +111.1% | -53.1% |
| Volatility (ann.) | 28.5% | 25.6% |
| Beta vs S&P 500 | 0.84 | -1.31 |
| Max drawdown (3Y) | -35.9% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 9.5 | – |
| Dividend yield | 2.70% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ORRF | VXZ |
|---|---|---|
| 2022 | -5.3% | +0.5% |
| 2023 | +32.3% | -44.0% |
| 2024 | +27.7% | -12.7% |
| 2025 | -0.0% | +5.7% |
| 2026 | +21.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORRF and VXZ good diversifiers for each other?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ORRF and VXZ?
The ORRF/VXZ correlation stands at -0.50 on a 3-year window (1 year: -0.40, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ORRF?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.50 mean?
A reading of -0.50 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/orrf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/orrf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ORRF correlations · VXZ correlations
