ESRT vs VXX: Correlation
Measured on weekly returns over the past three years, Empire State Realty Trust, Inc. (ESRT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESRT and VXX?
Over the past 3 years, ESRT and VXX moved with a correlation of -0.44, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.40 over 1 year against -0.44 over 3. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -826.5 %².
Out of 11 assets tracked against ESRT, VXX lands near the bottom at #10. Over the last 12 months ESRT came out ahead by 12.1 percentage points (-37.6% against -49.7%). Note the risk asymmetry: VXX runs 2.0 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.
ESRT vs VXX: side by side
| ESRT (Empire State Realty Trust, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -37.6% | -49.7% |
| 5-year return | -50.4% | -95.6% |
| Volatility (ann.) | 31.0% | 60.9% |
| Beta vs S&P 500 | 0.87 | -3.31 |
| Max drawdown (3Y) | -58.1% | -83.3% |
| Market cap | $1.4B | – |
| P/E (trailing) | 232.0 | – |
| Dividend yield | 2.97% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESRT | VXX |
|---|---|---|
| 2022 | -22.8% | -23.8% |
| 2023 | +46.3% | -72.5% |
| 2024 | +8.0% | -26.2% |
| 2025 | -35.7% | -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 ESRT and VXX good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ESRT and VXX?
Using weekly returns as of 2026-08-27: -0.44 over 3 years, with -0.40 over the last year and -0.40 over 5 years.
Is VXX a good diversifier for ESRT?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/esrt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esrt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ESRT correlations · VXX correlations
