TCBI vs VXX: Correlation
Measured on weekly returns over the past three years, Texas Capital Bancshares, Inc. (TCBI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TCBI and VXX?
On 3 years of weekly data the TCBI/VXX correlation comes out at -0.50, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.34) than the 3-year average (-0.50). The 5-year figure is -0.42, and annualized covariance runs at -855.3 %².
Out of 10 assets tracked against TCBI, VXX lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with TCBI ahead by 62.5 points (+12.8% versus -49.7%). One caveat on sizing: VXX is 2.2 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.
TCBI vs VXX: side by side
| TCBI (Texas Capital Bancshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +12.8% | -49.7% |
| 5-year return | +47.7% | -95.6% |
| Volatility (ann.) | 28.1% | 60.9% |
| Beta vs S&P 500 | 0.81 | -3.31 |
| Max drawdown (3Y) | -31.7% | -83.3% |
| Market cap | $4.3B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 0.20% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TCBI | VXX |
|---|---|---|
| 2022 | +0.1% | -23.8% |
| 2023 | +7.2% | -72.5% |
| 2024 | +21.0% | -26.2% |
| 2025 | +15.8% | -42.2% |
| 2026 | +8.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TCBI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
FAQ
What is the correlation between TCBI and VXX?
As of 2026-08-27, the correlation of weekly returns between TCBI and VXX is -0.50 over 3 years, -0.34 over 1 year and -0.42 over 5 years.
Is VXX a good diversifier for TCBI?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
What does a correlation of -0.50 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/tcbi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tcbi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TCBI correlations · VXX correlations
