DLR vs VXX: Correlation
Digital Realty (DLR) 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 -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLR and VXX?
Over the past 3 years, DLR and VXX moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.27). Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -438.1 %².
Among the 30 assets we track against DLR, VXX sits near the bottom by co-movement, at rank #28. Their recent paths diverged sharply: over the last 12 months DLR outperformed by 66.1 percentage points (+16.4% for DLR against -49.7% for VXX). Note the risk asymmetry: VXX runs 2.2 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.
DLR vs VXX: side by side
| DLR (Digital Realty) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.4% | -49.7% |
| 5-year return | +40.3% | -95.6% |
| Volatility (ann.) | 27.1% | 60.9% |
| Beta vs S&P 500 | 0.73 | -3.31 |
| Max drawdown (3Y) | -29.4% | -83.3% |
| Market cap | $72.5B | – |
| P/E (trailing) | 94.2 | – |
| Dividend yield | 2.52% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DLR | VXX |
|---|---|---|
| 2022 | -41.0% | -23.8% |
| 2023 | +39.9% | -72.5% |
| 2024 | +35.9% | -26.2% |
| 2025 | -10.1% | -42.2% |
| 2026 | +25.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and VXX good diversifiers for each other?
Yes. With a correlation of -0.27, DLR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between DLR and VXX?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.15 over the last year and -0.27 over 5 years.
Is VXX a good diversifier for DLR?
Yes. With a correlation of -0.27, DLR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/dlr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dlr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DLR correlations · VXX correlations
