EXR vs VXX: Correlation
How closely do Extra Space Storage (EXR) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXR and VXX?
Across a 3-year window, the weekly returns of EXR and VXX correlate at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.31 over 3 years. Stretching to 5 years gives -0.32, with an annualized covariance of -494.1 %².
Out of 33 assets tracked against EXR, VXX lands near the bottom at #32. Correlation aside, the last 12 months split them widely, with EXR ahead by 55.3 points (+5.6% versus -49.7%). Note the risk asymmetry: VXX runs 2.3 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.
EXR vs VXX: side by side
| EXR (Extra Space Storage) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.6% | -49.7% |
| 5-year return | -6.1% | -95.6% |
| Volatility (ann.) | 26.0% | 60.9% |
| Beta vs S&P 500 | 0.68 | -3.31 |
| Max drawdown (3Y) | -29.4% | -83.3% |
| Market cap | $31.5B | – |
| P/E (trailing) | 31.6 | – |
| Dividend yield | 4.50% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | EXR | VXX |
|---|---|---|
| 2022 | -32.8% | -23.8% |
| 2023 | +13.9% | -72.5% |
| 2024 | -2.8% | -26.2% |
| 2025 | -8.9% | -42.2% |
| 2026 | +12.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXR and VXX good diversifiers for each other?
Yes. With a correlation of -0.31, EXR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EXR and VXX?
As of 2026-08-27, the correlation of weekly returns between EXR and VXX is -0.31 over 3 years, -0.20 over 1 year and -0.32 over 5 years.
Is VXX a good diversifier for EXR?
Yes. With a correlation of -0.31, EXR and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/exr-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exr-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXR correlations · VXX correlations
