ARE vs VXX: Correlation
How closely do Alexandria Real Estate Equities (ARE) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARE and VXX?
Over the past 3 years, ARE and VXX moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.22 versus -0.37 over 3 years. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -872.1 %².
Out of 34 assets tracked against ARE, VXX lands near the bottom at #33. The last year tells two different stories: ARE led by 17.6 percentage points, -32.1% for ARE against -49.7% for VXX. Note the risk asymmetry: VXX runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ARE vs VXX: side by side
| ARE (Alexandria Real Estate Equities) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -32.1% | -49.7% |
| 5-year return | -68.3% | -95.6% |
| Volatility (ann.) | 38.3% | 60.9% |
| Beta vs S&P 500 | 0.91 | -3.31 |
| Max drawdown (3Y) | -65.6% | -83.3% |
| Market cap | $9.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.57% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | ARE | VXX |
|---|---|---|
| 2022 | -32.6% | -23.8% |
| 2023 | -9.1% | -72.5% |
| 2024 | -19.4% | -26.2% |
| 2025 | -46.6% | -42.2% |
| 2026 | +9.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARE and VXX good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARE and VXX?
As of 2026-08-27, the correlation of weekly returns between ARE and VXX is -0.37 over 3 years, -0.22 over 1 year and -0.40 over 5 years.
Is VXX a good diversifier for ARE?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
A reading of -0.37 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/are-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/are-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARE correlations · VXX correlations
