UNB vs VXX: Correlation
Measured on weekly returns over the past three years, Union Bankshares, Inc. (UNB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UNB and VXX?
Over the past 3 years, UNB and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.28). Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -596.9 %².
Among the 12 assets we track against UNB, VXX sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with UNB ahead by 44.2 points (-5.5% versus -49.7%). One caveat on sizing: VXX is 1.8 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.
UNB vs VXX: side by side
| UNB (Union Bankshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.5% | -49.7% |
| 5-year return | -7.4% | -95.6% |
| Volatility (ann.) | 34.7% | 60.9% |
| Beta vs S&P 500 | 0.57 | -3.31 |
| Max drawdown (3Y) | -40.1% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 9.1 | – |
| Dividend yield | 6.13% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UNB | VXX |
|---|---|---|
| 2022 | -15.4% | -23.8% |
| 2023 | +35.3% | -72.5% |
| 2024 | -0.7% | -26.2% |
| 2025 | -13.8% | -42.2% |
| 2026 | +3.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UNB and VXX good diversifiers for each other?
Yes. With a correlation of -0.28, UNB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between UNB and VXX?
As of 2026-08-27, the correlation of weekly returns between UNB and VXX is -0.28 over 3 years, -0.03 over 1 year and -0.23 over 5 years.
Is VXX a good diversifier for UNB?
Yes. With a correlation of -0.28, UNB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/unb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/unb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: UNB correlations · VXX correlations
