CUBE vs VXX: Correlation
CubeSmart (CUBE) 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 -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CUBE and VXX?
Across a 3-year window, the weekly returns of CUBE and VXX correlate at -0.32, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Stretching to 5 years gives -0.31, with an annualized covariance of -452.4 %².
Among the 24 assets we track against CUBE, VXX sits near the bottom by co-movement, at rank #23. Correlation aside, the last 12 months split them widely, with CUBE ahead by 53.5 points (+3.8% 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.
CUBE vs VXX: side by side
| CUBE (CubeSmart) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.8% | -49.7% |
| 5-year return | -6.2% | -95.6% |
| Volatility (ann.) | 23.0% | 60.9% |
| Beta vs S&P 500 | 0.63 | -3.31 |
| Max drawdown (3Y) | -32.0% | -83.3% |
| Market cap | $9.0B | – |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 5.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CUBE | VXX |
|---|---|---|
| 2022 | -26.3% | -23.8% |
| 2023 | +20.5% | -72.5% |
| 2024 | -4.5% | -26.2% |
| 2025 | -11.6% | -42.2% |
| 2026 | +15.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CUBE and VXX good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CUBE and VXX?
The CUBE/VXX correlation stands at -0.32 on a 3-year window (1 year: -0.25, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for CUBE?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 mean?
A reading of -0.32 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/cube-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cube-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CUBE correlations · VXX correlations
