CLDT vs VXX: Correlation
How closely do Chatham Lodging Trust (REIT) (CLDT) 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 -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDT and VXX?
Across a 3-year window, the weekly returns of CLDT and VXX correlate at -0.44, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.44). Stretching to 5 years gives -0.41, with an annualized covariance of -785.8 %².
VXX is close to the least connected end of CLDT's tracked universe, ranking #13 of 14. Their recent paths diverged sharply: over the last 12 months CLDT outperformed by 129.7 percentage points (+80.0% for CLDT against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.1 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.
CLDT vs VXX: side by side
| CLDT (Chatham Lodging Trust (REIT)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +80.0% | -49.7% |
| 5-year return | +28.1% | -95.6% |
| Volatility (ann.) | 29.5% | 60.9% |
| Beta vs S&P 500 | 0.92 | -3.31 |
| Max drawdown (3Y) | -41.9% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 166.9 | – |
| Dividend yield | 2.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDT | VXX |
|---|---|---|
| 2022 | -10.0% | -23.8% |
| 2023 | -10.1% | -72.5% |
| 2024 | -13.8% | -26.2% |
| 2025 | -19.9% | -42.2% |
| 2026 | +100.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDT and VXX good diversifiers for each other?
Yes. With a correlation of -0.44, CLDT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CLDT and VXX?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.10 over the last year and -0.41 over 5 years.
Is VXX a good diversifier for CLDT?
Yes. With a correlation of -0.44, CLDT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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/cldt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cldt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CLDT correlations · VXX correlations
