LXP vs VXX: Correlation
Measured on weekly returns over the past three years, LXP Industrial Trust (LXP) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXP and VXX?
Over the past 3 years, LXP and VXX moved with a correlation of -0.45, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.33) runs above the 3-year figure (-0.45). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -614.9 %².
Among the 12 assets we track against LXP, VXX sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with LXP ahead by 91.9 points (+42.2% versus -49.7%). Note the risk asymmetry: VXX runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
LXP vs VXX: side by side
| LXP (LXP Industrial Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +42.2% | -49.7% |
| 5-year return | +17.3% | -95.6% |
| Volatility (ann.) | 22.4% | 60.9% |
| Beta vs S&P 500 | 0.62 | -3.31 |
| Max drawdown (3Y) | -27.8% | -83.3% |
| Market cap | $3.6B | – |
| P/E (trailing) | 61.7 | – |
| Dividend yield | 4.55% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LXP | VXX |
|---|---|---|
| 2022 | -33.0% | -23.8% |
| 2023 | +4.3% | -72.5% |
| 2024 | -13.2% | -26.2% |
| 2025 | +29.8% | -42.2% |
| 2026 | +26.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXP and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between LXP and VXX?
The LXP/VXX correlation stands at -0.45 on a 3-year window (1 year: -0.33, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for LXP?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 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/lxp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lxp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LXP correlations · VXX correlations
