FRT vs VXX: Correlation
How closely do Federal Realty Investment Trust (FRT) 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 -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRT and VXX?
Over the past 3 years, FRT and VXX moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.19 versus -0.36 over 3 years. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -431.1 %².
VXX is close to the least connected end of FRT's tracked universe, ranking #45 of 46. Their recent paths diverged sharply: over the last 12 months FRT outperformed by 71.3 percentage points (+21.6% for FRT against -49.7% for VXX). Note the risk asymmetry: VXX runs 3.1 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.
FRT vs VXX: side by side
| FRT (Federal Realty Investment Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.6% | -49.7% |
| 5-year return | +18.8% | -95.6% |
| Volatility (ann.) | 19.5% | 60.9% |
| Beta vs S&P 500 | 0.53 | -3.31 |
| Max drawdown (3Y) | -27.4% | -83.3% |
| Market cap | $10.2B | – |
| P/E (trailing) | 23.6 | – |
| Dividend yield | 3.84% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | FRT | VXX |
|---|---|---|
| 2022 | -22.7% | -23.8% |
| 2023 | +6.6% | -72.5% |
| 2024 | +12.1% | -26.2% |
| 2025 | -5.9% | -42.2% |
| 2026 | +19.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRT and VXX good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRT and VXX?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.19 over the last year and -0.40 over 5 years.
Is VXX a good diversifier for FRT?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
A reading of -0.36 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/frt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRT correlations · VXX correlations
