PFS vs VXX: Correlation
Provident Financial Services, Inc (PFS) 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 -0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFS and VXX?
Across a 3-year window, the weekly returns of PFS and VXX correlate at -0.48, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.21) than the 3-year average (-0.48). Stretching to 5 years gives -0.44, with an annualized covariance of -890.1 %².
Out of 28 assets tracked against PFS, VXX lands near the bottom at #27. Their recent paths diverged sharply: over the last 12 months PFS outperformed by 73.6 percentage points (+23.9% for PFS against -49.7% for VXX). One caveat on sizing: VXX is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PFS vs VXX: side by side
| PFS (Provident Financial Services, Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.9% | -49.7% |
| 5-year return | +37.5% | -95.6% |
| Volatility (ann.) | 30.4% | 60.9% |
| Beta vs S&P 500 | 0.87 | -3.31 |
| Max drawdown (3Y) | -31.3% | -83.3% |
| Market cap | $3.1B | – |
| P/E (trailing) | 9.8 | – |
| Dividend yield | 2.04% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFS | VXX |
|---|---|---|
| 2022 | -8.0% | -23.8% |
| 2023 | -10.8% | -72.5% |
| 2024 | +10.7% | -26.2% |
| 2025 | +10.2% | -42.2% |
| 2026 | +23.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFS and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between PFS and VXX?
The PFS/VXX correlation stands at -0.48 on a 3-year window (1 year: -0.21, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for PFS?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
A reading of -0.48 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/pfs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pfs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PFS correlations · VXX correlations
