LVS vs VXX: Correlation
Las Vegas Sands (LVS) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LVS and VXX?
Over the past 3 years, LVS and VXX moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.31 over 3. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -654.4 %².
VXX is close to the least connected end of LVS's tracked universe, ranking #29 of 29. Their recent paths diverged sharply: over the last 12 months LVS outperformed by 29.4 percentage points (-20.3% for LVS against -49.7% for VXX). One caveat on sizing: VXX is 1.8 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.
LVS vs VXX: side by side
| LVS (Las Vegas Sands) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -20.3% | -49.7% |
| 5-year return | +8.5% | -95.6% |
| Volatility (ann.) | 34.8% | 60.9% |
| Beta vs S&P 500 | 0.75 | -3.31 |
| Max drawdown (3Y) | -44.0% | -83.3% |
| Market cap | $28.7B | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 2.49% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | LVS | VXX |
|---|---|---|
| 2022 | +27.7% | -23.8% |
| 2023 | +3.1% | -72.5% |
| 2024 | +6.2% | -26.2% |
| 2025 | +29.5% | -42.2% |
| 2026 | -30.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LVS and VXX good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LVS and VXX?
The LVS/VXX correlation stands at -0.31 on a 3-year window (1 year: -0.37, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for LVS?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
A reading of -0.31 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/lvs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lvs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LVS correlations · VXX correlations
