MAA vs VXX: Correlation
How closely do Mid-America Apartment Communities (MAA) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAA and VXX?
Over the past 3 years, MAA and VXX moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.07) runs above the 3-year figure (-0.28). Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -346.6 %².
VXX is close to the least connected end of MAA's tracked universe, ranking #30 of 31. Their recent paths diverged sharply: over the last 12 months MAA outperformed by 43.1 percentage points (-6.6% for MAA against -49.7% for VXX). One caveat on sizing: VXX is 3.0 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.
MAA vs VXX: side by side
| MAA (Mid-America Apartment Communities) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.6% | -49.7% |
| 5-year return | -19.3% | -95.6% |
| Volatility (ann.) | 20.3% | 60.9% |
| Beta vs S&P 500 | 0.49 | -3.31 |
| Max drawdown (3Y) | -26.4% | -83.3% |
| Market cap | $15.3B | – |
| P/E (trailing) | 37.7 | – |
| Dividend yield | 4.63% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | MAA | VXX |
|---|---|---|
| 2022 | -29.7% | -23.8% |
| 2023 | -11.1% | -72.5% |
| 2024 | +19.9% | -26.2% |
| 2025 | -6.4% | -42.2% |
| 2026 | -4.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAA and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between MAA and VXX?
The MAA/VXX correlation stands at -0.28 on a 3-year window (1 year: -0.07, 5 years: -0.32), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MAA?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/maa-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/maa-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MAA correlations · VXX correlations
