VXX vs WFC: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Wells Fargo (WFC) trade together? Their weekly returns over three years give a correlation of -0.53, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WFC?
Across a 3-year window, the weekly returns of VXX and WFC correlate at -0.53, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.34) runs above the 3-year figure (-0.53). Stretching to 5 years gives -0.50, with an annualized covariance of -952.5 %².
By 3-year correlation, WFC places #2659 of the 2872 assets tracked against VXX. Their recent paths diverged sharply: over the last 12 months WFC outperformed by 54.9 percentage points (-49.7% for VXX against +5.2% for WFC). Risk is not evenly split, since VXX carries 2.1 times the volatility of the other side.
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.
VXX vs WFC: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WFC (Wells Fargo) | |
|---|---|---|
| 1-year return | -49.7% | +5.2% |
| 5-year return | -95.6% | +98.3% |
| Volatility (ann.) | 60.9% | 29.7% |
| Beta vs S&P 500 | -3.31 | 0.98 |
| Max drawdown (3Y) | -83.3% | -24.7% |
| Market cap | – | $256.9B |
| P/E (trailing) | – | 12.4 |
| Dividend yield | 0.00% | 2.11% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | VXX | WFC |
|---|---|---|
| 2022 | -23.8% | -11.9% |
| 2023 | -72.5% | +22.9% |
| 2024 | -26.2% | +46.5% |
| 2025 | -42.2% | +35.6% |
| 2026 | -31.6% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WFC good diversifiers for each other?
Yes. With a correlation of -0.53, VXX and WFC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and WFC?
The VXX/WFC correlation stands at -0.53 on a 3-year window (1 year: -0.34, 5 years: -0.50), computed from weekly returns as of 2026-08-27.
Is WFC a good diversifier for VXX?
Yes. With a correlation of -0.53, VXX and WFC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.53 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.
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Related comparisons
Hubs: VXX correlations · WFC correlations
