TCBX vs VXX: Correlation
How closely do Third Coast Bancshares, Inc. (TCBX) 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 -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TCBX and VXX?
Over the past 3 years, TCBX and VXX moved with a correlation of -0.48, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.27 versus -0.48 over 3 years. Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -924.7 %².
Out of 13 assets tracked against TCBX, VXX lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months TCBX outperformed by 62.5 percentage points (+12.8% for TCBX against -49.7% for VXX). Note the risk asymmetry: VXX runs 1.9 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.
TCBX vs VXX: side by side
| TCBX (Third Coast Bancshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +12.8% | -49.7% |
| 5-year return | +80.3% | -95.6% |
| Volatility (ann.) | 31.7% | 60.9% |
| Beta vs S&P 500 | 0.88 | -3.31 |
| Max drawdown (3Y) | -28.9% | -83.3% |
| Market cap | $0.8B | – |
| P/E (trailing) | 11.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TCBX | VXX |
|---|---|---|
| 2022 | -29.1% | -23.8% |
| 2023 | +7.8% | -72.5% |
| 2024 | +70.9% | -26.2% |
| 2025 | +12.0% | -42.2% |
| 2026 | +18.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TCBX and VXX good diversifiers for each other?
Yes. With a correlation of -0.48, TCBX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TCBX and VXX?
Using weekly returns as of 2026-08-27: -0.48 over 3 years, with -0.27 over the last year and -0.39 over 5 years.
Is VXX a good diversifier for TCBX?
Yes. With a correlation of -0.48, TCBX and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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/tcbx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tcbx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TCBX correlations · VXX correlations
