TFSL vs VXX: Correlation
TFS Financial Corporation (TFSL) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TFSL and VXX?
Over the past 3 years, TFSL and VXX moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.37). Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -525.7 %².
Among the 13 assets we track against TFSL, VXX sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months TFSL outperformed by 85.9 percentage points (+36.2% for TFSL against -49.7% for VXX). One caveat on sizing: VXX is 2.6 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.
TFSL vs VXX: side by side
| TFSL (TFS Financial Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +36.2% | -49.7% |
| 5-year return | +35.4% | -95.6% |
| Volatility (ann.) | 23.1% | 60.9% |
| Beta vs S&P 500 | 0.49 | -3.31 |
| Max drawdown (3Y) | -21.3% | -83.3% |
| Market cap | $5.0B | – |
| P/E (trailing) | 49.7 | – |
| Dividend yield | 6.31% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TFSL | VXX |
|---|---|---|
| 2022 | -13.0% | -23.8% |
| 2023 | +11.2% | -72.5% |
| 2024 | -6.7% | -26.2% |
| 2025 | +16.0% | -42.2% |
| 2026 | +39.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TFSL and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between TFSL and VXX?
As of 2026-08-27, the correlation of weekly returns between TFSL and VXX is -0.37 over 3 years, -0.14 over 1 year and -0.37 over 5 years.
Is VXX a good diversifier for TFSL?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 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/tfsl-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tfsl-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TFSL correlations · VXX correlations
