TBBK vs VXZ: Correlation
How closely do The Bancorp, Inc. (TBBK) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.49, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TBBK and VXZ?
Over the past 3 years, TBBK and VXZ moved with a correlation of -0.49, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.55) sits close to the 3-year figure. Over 5 years the correlation is -0.49, and the annualized covariance of weekly returns is -517.5 %².
Among the 11 assets we track against TBBK, VXZ sits near the bottom by co-movement, at rank #11. Twelve-month performance is nearly a tie, at -13.6% for TBBK and -16.1% for VXZ. Note the risk asymmetry: TBBK runs 1.6 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.
TBBK vs VXZ: side by side
| TBBK (The Bancorp, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -13.6% | -16.1% |
| 5-year return | +172.1% | -53.1% |
| Volatility (ann.) | 41.2% | 25.6% |
| Beta vs S&P 500 | 1.08 | -1.31 |
| Max drawdown (3Y) | -36.3% | -36.4% |
| Market cap | $2.7B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TBBK | VXZ |
|---|---|---|
| 2022 | +12.1% | +0.5% |
| 2023 | +35.9% | -44.0% |
| 2024 | +36.5% | -12.7% |
| 2025 | +28.3% | +5.7% |
| 2026 | -1.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TBBK and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
FAQ
What is the correlation between TBBK and VXZ?
The TBBK/VXZ correlation stands at -0.49 on a 3-year window (1 year: -0.55, 5 years: -0.49), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for TBBK?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
What does a correlation of -0.49 mean?
On the −1 to +1 scale, -0.49 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/tbbk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tbbk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: TBBK correlations · VXZ correlations
