VBNK vs VXX: Correlation
VersaBank (VBNK) 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 -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VBNK and VXX?
Over the past 3 years, VBNK and VXX moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. Over 5 years the correlation is -0.28, and the annualized covariance of weekly returns is -804.4 %².
VXX is close to the least connected end of VBNK's tracked universe, ranking #9 of 10. Their recent paths diverged sharply: over the last 12 months VBNK outperformed by 132.8 percentage points (+83.1% for VBNK against -49.7% for VXX). One caveat on sizing: VXX is 1.5 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.
VBNK vs VXX: side by side
| VBNK (VersaBank) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +83.1% | -49.7% |
| 5-year return | +102.0% | -95.6% |
| Volatility (ann.) | 40.6% | 60.9% |
| Beta vs S&P 500 | 0.80 | -3.31 |
| Max drawdown (3Y) | -50.5% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 30.1 | – |
| Dividend yield | 0.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VBNK | VXX |
|---|---|---|
| 2022 | -36.2% | -23.8% |
| 2023 | +47.0% | -72.5% |
| 2024 | +27.3% | -26.2% |
| 2025 | +8.8% | -42.2% |
| 2026 | +37.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VBNK and VXX good diversifiers for each other?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VBNK and VXX?
As of 2026-08-27, the correlation of weekly returns between VBNK and VXX is -0.33 over 3 years, -0.41 over 1 year and -0.28 over 5 years.
Is VXX a good diversifier for VBNK?
Yes: at -0.33, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.33 mean?
A reading of -0.33 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/vbnk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vbnk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: VBNK correlations · VXX correlations
