AIV vs VXX: Correlation
Measured on weekly returns over the past three years, Apartment Investment and Management Company (AIV) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIV and VXX?
On 3 years of weekly data the AIV/VXX correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.42 over 3 years. The 5-year figure is -0.40, and annualized covariance runs at -607.2 %².
VXX is close to the least connected end of AIV's tracked universe, ranking #9 of 10. Correlation aside, the last 12 months split them widely, with AIV ahead by 34.8 points (-14.9% versus -49.7%). Risk is not evenly split, since VXX carries 2.6 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.
AIV vs VXX: side by side
| AIV (Apartment Investment and Management Company) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -14.9% | -49.7% |
| 5-year return | +1.3% | -95.6% |
| Volatility (ann.) | 23.7% | 60.9% |
| Beta vs S&P 500 | 0.73 | -3.31 |
| Max drawdown (3Y) | -27.9% | -83.3% |
| Market cap | $0.4B | – |
| P/E (trailing) | 22.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIV | VXX |
|---|---|---|
| 2022 | -7.6% | -23.8% |
| 2023 | +10.0% | -72.5% |
| 2024 | +16.1% | -26.2% |
| 2025 | -2.2% | -42.2% |
| 2026 | -19.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIV and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, AIV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AIV and VXX?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.20 over the last year and -0.40 over 5 years.
Is VXX a good diversifier for AIV?
Yes. With a correlation of -0.42, AIV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
A reading of -0.42 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/aiv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aiv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AIV correlations · VXX correlations
