PFIS vs VXX: Correlation
Measured on weekly returns over the past three years, Peoples Financial Services Corp. (PFIS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFIS and VXX?
Across a 3-year window, the weekly returns of PFIS and VXX correlate at -0.40, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.19) runs above the 3-year figure (-0.40). Stretching to 5 years gives -0.37, with an annualized covariance of -742.9 %².
Out of 16 assets tracked against PFIS, VXX lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months PFIS outperformed by 85.2 percentage points (+35.5% for PFIS against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PFIS vs VXX: side by side
| PFIS (Peoples Financial Services Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.5% | -49.7% |
| 5-year return | +82.0% | -95.6% |
| Volatility (ann.) | 30.5% | 60.9% |
| Beta vs S&P 500 | 0.66 | -3.31 |
| Max drawdown (3Y) | -29.1% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 12.3 | – |
| Dividend yield | 3.56% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFIS | VXX |
|---|---|---|
| 2022 | +1.5% | -23.8% |
| 2023 | -2.5% | -72.5% |
| 2024 | +9.9% | -26.2% |
| 2025 | +0.0% | -42.2% |
| 2026 | +45.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFIS and VXX good diversifiers for each other?
Yes. With a correlation of -0.40, PFIS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PFIS and VXX?
The PFIS/VXX correlation stands at -0.40 on a 3-year window (1 year: -0.19, 5 years: -0.37), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PFIS?
Yes. With a correlation of -0.40, PFIS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pfis-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pfis-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PFIS correlations · VXX correlations
