AER vs VXX: Correlation
AerCap Holdings N.V. (AER) 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 -0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AER and VXX?
Across a 3-year window, the weekly returns of AER and VXX correlate at -0.63, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.44) than the 3-year average (-0.63). Stretching to 5 years gives -0.54, with an annualized covariance of -848.8 %².
VXX is close to the least connected end of AER's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months AER outperformed by 71.1 percentage points (+21.4% for AER against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.8 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.
AER vs VXX: side by side
| AER (AerCap Holdings N.V.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.4% | -49.7% |
| 5-year return | +178.9% | -95.6% |
| Volatility (ann.) | 22.0% | 60.9% |
| Beta vs S&P 500 | 0.79 | -3.31 |
| Max drawdown (3Y) | -15.7% | -83.3% |
| Market cap | $23.3B | – |
| P/E (trailing) | 7.4 | – |
| Dividend yield | 0.98% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AER | VXX |
|---|---|---|
| 2022 | -10.9% | -23.8% |
| 2023 | +27.4% | -72.5% |
| 2024 | +29.8% | -26.2% |
| 2025 | +51.4% | -42.2% |
| 2026 | +3.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AER and VXX good diversifiers for each other?
Yes: at -0.63, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AER and VXX?
The AER/VXX correlation stands at -0.63 on a 3-year window (1 year: -0.44, 5 years: -0.54), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AER?
Yes: at -0.63, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.63 mean?
On the −1 to +1 scale, -0.63 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/aer-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aer-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AER correlations · VXX correlations
