JBGS vs VXX: Correlation
Measured on weekly returns over the past three years, JBG SMITH Properties (JBGS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JBGS and VXX?
Over the past 3 years, JBGS and VXX moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.15) runs above the 3-year figure (-0.30). Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -620.0 %².
Among the 10 assets we track against JBGS, VXX sits near the bottom by co-movement, at rank #9. The trailing year gives JBGS the advantage: -40.4% versus -49.7%, a 9.3-point spread. Risk is not evenly split, since VXX carries 1.8 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.
JBGS vs VXX: side by side
| JBGS (JBG SMITH Properties) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -40.4% | -49.7% |
| 5-year return | -49.3% | -95.6% |
| Volatility (ann.) | 33.7% | 60.9% |
| Beta vs S&P 500 | 0.68 | -3.31 |
| Max drawdown (3Y) | -52.2% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 5.67% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JBGS | VXX |
|---|---|---|
| 2022 | -31.0% | -23.8% |
| 2023 | -6.1% | -72.5% |
| 2024 | -4.5% | -26.2% |
| 2025 | +15.2% | -42.2% |
| 2026 | -26.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JBGS and VXX good diversifiers for each other?
Yes. With a correlation of -0.30, JBGS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JBGS and VXX?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.15 over the last year and -0.30 over 5 years.
Is VXX a good diversifier for JBGS?
Yes. With a correlation of -0.30, JBGS and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/jbgs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jbgs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: JBGS correlations · VXX correlations
