HHH vs VXZ: Correlation
Howard Hughes Holdings Inc. (HHH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HHH and VXZ?
Over the past 3 years, HHH and VXZ moved with a correlation of -0.56, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.33 versus -0.56 over 3 years. Over 5 years the correlation is -0.56, and the annualized covariance of weekly returns is -417.9 %².
Out of 17 assets tracked against HHH, VXZ lands near the bottom at #17. Twelve-month performance is nearly a tie, at -14.2% for HHH and -16.1% for VXZ.
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.
HHH vs VXZ: side by side
| HHH (Howard Hughes Holdings Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -14.2% | -16.1% |
| 5-year return | -25.2% | -53.1% |
| Volatility (ann.) | 29.3% | 25.6% |
| Beta vs S&P 500 | 0.96 | -1.31 |
| Max drawdown (3Y) | -31.4% | -36.4% |
| Market cap | $3.9B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HHH | VXZ |
|---|---|---|
| 2022 | -24.9% | +0.5% |
| 2023 | +11.9% | -44.0% |
| 2024 | -5.7% | -12.7% |
| 2025 | +3.7% | +5.7% |
| 2026 | -18.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HHH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.56 means the two rarely move for the same reasons.
FAQ
What is the correlation between HHH and VXZ?
The HHH/VXZ correlation stands at -0.56 on a 3-year window (1 year: -0.33, 5 years: -0.56), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for HHH?
By historical standards, yes. A correlation of -0.56 means the two rarely move for the same reasons.
What does a correlation of -0.56 mean?
A reading of -0.56 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/hhh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hhh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HHH correlations · VXZ correlations
