THFF vs VXZ: Correlation
First Financial Corporation (THFF) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THFF and VXZ?
On 3 years of weekly data the THFF/VXZ correlation comes out at -0.53, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.39 versus -0.53 over 3 years. The 5-year figure is -0.45, and annualized covariance runs at -384.8 %².
Among the 70 assets we track against THFF, VXZ sits near the bottom by co-movement, at rank #70. Correlation aside, the last 12 months split them widely, with THFF ahead by 54.9 points (+38.8% versus -16.1%).
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.
THFF vs VXZ: side by side
| THFF (First Financial Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +38.8% | -16.1% |
| 5-year return | +135.2% | -53.1% |
| Volatility (ann.) | 28.2% | 25.6% |
| Beta vs S&P 500 | 0.81 | -1.31 |
| Max drawdown (3Y) | -20.2% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | 11.1 | – |
| Dividend yield | 2.77% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THFF | VXZ |
|---|---|---|
| 2022 | +4.4% | +0.5% |
| 2023 | -2.6% | -44.0% |
| 2024 | +11.1% | -12.7% |
| 2025 | +36.2% | +5.7% |
| 2026 | +35.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THFF and VXZ good diversifiers for each other?
Yes. With a correlation of -0.53, THFF and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between THFF and VXZ?
As of 2026-08-27, the correlation of weekly returns between THFF and VXZ is -0.53 over 3 years, -0.39 over 1 year and -0.45 over 5 years.
Is VXZ a good diversifier for THFF?
Yes. With a correlation of -0.53, THFF and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.53 mean?
On the −1 to +1 scale, -0.53 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/thff-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/thff-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: THFF correlations · VXZ correlations
