GRBK vs VXX: Correlation
Green Brick Partners, Inc. (GRBK) 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 -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRBK and VXX?
On 3 years of weekly data the GRBK/VXX correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.35 over 3. The 5-year figure is -0.37, and annualized covariance runs at -804.8 %².
VXX is close to the least connected end of GRBK's tracked universe, ranking #26 of 27. Their recent paths diverged sharply: over the last 12 months GRBK outperformed by 54.2 percentage points (+4.5% for GRBK against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.6 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.
GRBK vs VXX: side by side
| GRBK (Green Brick Partners, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.5% | -49.7% |
| 5-year return | +186.8% | -95.6% |
| Volatility (ann.) | 37.3% | 60.9% |
| Beta vs S&P 500 | 1.07 | -3.31 |
| Max drawdown (3Y) | -36.1% | -83.3% |
| Market cap | $3.1B | – |
| P/E (trailing) | 11.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRBK | VXX |
|---|---|---|
| 2022 | -20.1% | -23.8% |
| 2023 | +114.4% | -72.5% |
| 2024 | +8.8% | -26.2% |
| 2025 | +10.9% | -42.2% |
| 2026 | +16.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRBK and VXX good diversifiers for each other?
Yes. With a correlation of -0.35, GRBK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GRBK and VXX?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.30 over the last year and -0.37 over 5 years.
Is VXX a good diversifier for GRBK?
Yes. With a correlation of -0.35, GRBK and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 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/grbk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grbk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GRBK correlations · VXX correlations
