OVLY vs VXX: Correlation
Oak Valley Bancorp (CA) (OVLY) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OVLY and VXX?
On 3 years of weekly data the OVLY/VXX correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.40 over 3 years. The 5-year figure is -0.35, and annualized covariance runs at -650.1 %².
VXX is close to the least connected end of OVLY's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months OVLY outperformed by 71.9 percentage points (+22.2% for OVLY against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.3 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.
OVLY vs VXX: side by side
| OVLY (Oak Valley Bancorp (CA)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +22.2% | -49.7% |
| 5-year return | +111.8% | -95.6% |
| Volatility (ann.) | 26.5% | 60.9% |
| Beta vs S&P 500 | 0.56 | -3.31 |
| Max drawdown (3Y) | -26.3% | -83.3% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.9 | – |
| Dividend yield | 2.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OVLY | VXX |
|---|---|---|
| 2022 | +32.4% | -23.8% |
| 2023 | +33.9% | -72.5% |
| 2024 | -0.7% | -26.2% |
| 2025 | +5.1% | -42.2% |
| 2026 | +15.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OVLY and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between OVLY and VXX?
As of 2026-08-27, the correlation of weekly returns between OVLY and VXX is -0.40 over 3 years, -0.20 over 1 year and -0.35 over 5 years.
Is VXX a good diversifier for OVLY?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
A reading of -0.40 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/ovly-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ovly-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OVLY correlations · VXX correlations
