LEGH vs VXX: Correlation
Measured on weekly returns over the past three years, Legacy Housing Corporation (LEGH) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEGH and VXX?
Over the past 3 years, LEGH and VXX moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.38 over 1 year against -0.36 over 3. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -759.9 %².
Out of 13 assets tracked against LEGH, VXX lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with LEGH ahead by 51.3 points (+1.6% versus -49.7%). 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.
LEGH vs VXX: side by side
| LEGH (Legacy Housing Corporation) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.6% | -49.7% |
| 5-year return | +49.1% | -95.6% |
| Volatility (ann.) | 34.8% | 60.9% |
| Beta vs S&P 500 | 0.84 | -3.31 |
| Max drawdown (3Y) | -34.9% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 13.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEGH | VXX |
|---|---|---|
| 2022 | -28.4% | -23.8% |
| 2023 | +33.0% | -72.5% |
| 2024 | -2.1% | -26.2% |
| 2025 | -20.9% | -42.2% |
| 2026 | +45.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEGH 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 LEGH and VXX?
The LEGH/VXX correlation stands at -0.36 on a 3-year window (1 year: -0.38, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for LEGH?
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?
On the −1 to +1 scale, -0.36 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/legh-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/legh-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LEGH correlations · VXX correlations
