RF vs VXX: Correlation
Measured on weekly returns over the past three years, Regions Financial Corporation (RF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.53, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RF and VXX?
Across a 3-year window, the weekly returns of RF and VXX correlate at -0.53, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.37 versus -0.53 over 3 years. Stretching to 5 years gives -0.49, with an annualized covariance of -947.8 %².
Out of 44 assets tracked against RF, VXX lands near the bottom at #43. Correlation aside, the last 12 months split them widely, with RF ahead by 65.1 points (+15.4% versus -49.7%). Note the risk asymmetry: VXX runs 2.1 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.
RF vs VXX: side by side
| RF (Regions Financial Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.4% | -49.7% |
| 5-year return | +83.5% | -95.6% |
| Volatility (ann.) | 29.2% | 60.9% |
| Beta vs S&P 500 | 1.09 | -3.31 |
| Max drawdown (3Y) | -31.9% | -83.3% |
| Market cap | $25.9B | – |
| P/E (trailing) | 12.4 | – |
| Dividend yield | 3.45% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | RF | VXX |
|---|---|---|
| 2022 | +2.3% | -23.8% |
| 2023 | -5.7% | -72.5% |
| 2024 | +27.0% | -26.2% |
| 2025 | +20.2% | -42.2% |
| 2026 | +14.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RF and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.53 means the two rarely move for the same reasons.
FAQ
What is the correlation between RF and VXX?
Using weekly returns as of 2026-08-27: -0.53 over 3 years, with -0.37 over the last year and -0.49 over 5 years.
Is VXX a good diversifier for RF?
By historical standards, yes. A correlation of -0.53 means the two rarely move for the same reasons.
What does a correlation of -0.53 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/rf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RF correlations · VXX correlations
