BXMT vs VXX: Correlation
Blackstone Mortgage Trust, Inc. (BXMT) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXMT and VXX?
Across a 3-year window, the weekly returns of BXMT and VXX correlate at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.11 versus -0.35 over 3 years. Stretching to 5 years gives -0.40, with an annualized covariance of -548.2 %².
Among the 12 assets we track against BXMT, VXX sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with BXMT ahead by 28.4 points (-21.3% versus -49.7%). Risk is not evenly split, since VXX carries 2.4 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.
BXMT vs VXX: side by side
| BXMT (Blackstone Mortgage Trust, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -21.3% | -49.7% |
| 5-year return | -28.8% | -95.6% |
| Volatility (ann.) | 25.8% | 60.9% |
| Beta vs S&P 500 | 0.63 | -3.31 |
| Max drawdown (3Y) | -29.8% | -83.3% |
| Market cap | $2.3B | – |
| P/E (trailing) | 172.6 | – |
| Dividend yield | 13.51% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXMT | VXX |
|---|---|---|
| 2022 | -24.0% | -23.8% |
| 2023 | +13.5% | -72.5% |
| 2024 | -7.9% | -26.2% |
| 2025 | +21.1% | -42.2% |
| 2026 | -24.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXMT and VXX good diversifiers for each other?
Yes. With a correlation of -0.35, BXMT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BXMT and VXX?
The BXMT/VXX correlation stands at -0.35 on a 3-year window (1 year: -0.11, 5 years: -0.40), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BXMT?
Yes. With a correlation of -0.35, BXMT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/bxmt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxmt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BXMT correlations · VXX correlations
