BHR vs VXX: Correlation
Braemar Hotels & Resorts Inc. (BHR) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHR and VXX?
On 3 years of weekly data the BHR/VXX correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is -0.34, and annualized covariance runs at -1204.4 %².
Among the 12 assets we track against BHR, VXX sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with BHR ahead by 28.3 points (-21.4% versus -49.7%).
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.
BHR vs VXX: side by side
| BHR (Braemar Hotels & Resorts Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -21.4% | -49.7% |
| 5-year return | -47.8% | -95.6% |
| Volatility (ann.) | 55.4% | 60.9% |
| Beta vs S&P 500 | 1.17 | -3.31 |
| Max drawdown (3Y) | -49.7% | -83.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.88% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHR | VXX |
|---|---|---|
| 2022 | -17.9% | -23.8% |
| 2023 | -35.2% | -72.5% |
| 2024 | +29.6% | -26.2% |
| 2025 | +3.0% | -42.2% |
| 2026 | -27.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHR and VXX good diversifiers for each other?
Yes. With a correlation of -0.36, BHR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BHR and VXX?
The BHR/VXX correlation stands at -0.36 on a 3-year window (1 year: -0.26, 5 years: -0.34), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BHR?
Yes. With a correlation of -0.36, BHR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/bhr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BHR correlations · VXX correlations
