RJF vs VXX: Correlation
How closely do Raymond James Financial (RJF) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.56, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RJF and VXX?
Over the past 3 years, RJF and VXX moved with a correlation of -0.56, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.35) than the 3-year average (-0.56). Over 5 years the correlation is -0.52, and the annualized covariance of weekly returns is -850.5 %².
VXX is close to the least connected end of RJF's tracked universe, ranking #28 of 29. The last year tells two different stories: RJF led by 56.0 percentage points, +6.3% for RJF against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.5 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.
RJF vs VXX: side by side
| RJF (Raymond James Financial) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.3% | -49.7% |
| 5-year return | +102.1% | -95.6% |
| Volatility (ann.) | 24.8% | 60.9% |
| Beta vs S&P 500 | 1.03 | -3.31 |
| Max drawdown (3Y) | -28.1% | -83.3% |
| Market cap | $33.8B | – |
| P/E (trailing) | 15.4 | – |
| Dividend yield | 1.20% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | RJF | VXX |
|---|---|---|
| 2022 | +8.3% | -23.8% |
| 2023 | +6.1% | -72.5% |
| 2024 | +40.8% | -26.2% |
| 2025 | +4.7% | -42.2% |
| 2026 | +10.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RJF and VXX good diversifiers for each other?
Yes. With a correlation of -0.56, RJF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RJF and VXX?
The RJF/VXX correlation stands at -0.56 on a 3-year window (1 year: -0.35, 5 years: -0.52), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for RJF?
Yes. With a correlation of -0.56, RJF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.56 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/rjf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rjf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RJF correlations · VXX correlations
