IRT vs VXX: Correlation
Independence Realty Trust, Inc. (IRT) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRT and VXX?
Across a 3-year window, the weekly returns of IRT and VXX correlate at -0.42, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.42). Stretching to 5 years gives -0.38, with an annualized covariance of -628.2 %².
Out of 16 assets tracked against IRT, VXX lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months IRT outperformed by 46.2 percentage points (-3.5% for IRT against -49.7% for VXX). One caveat on sizing: VXX is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IRT vs VXX: side by side
| IRT (Independence Realty Trust, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.5% | -49.7% |
| 5-year return | -4.5% | -95.6% |
| Volatility (ann.) | 24.8% | 60.9% |
| Beta vs S&P 500 | 0.74 | -3.31 |
| Max drawdown (3Y) | -29.0% | -83.3% |
| Market cap | $4.0B | – |
| P/E (trailing) | 91.1 | – |
| Dividend yield | 4.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRT | VXX |
|---|---|---|
| 2022 | -32.3% | -23.8% |
| 2023 | -5.6% | -72.5% |
| 2024 | +34.3% | -26.2% |
| 2025 | -8.5% | -42.2% |
| 2026 | -4.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between IRT and VXX?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.10 over the last year and -0.38 over 5 years.
Is VXX a good diversifier for IRT?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 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/irt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/irt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IRT correlations · VXX correlations
