MAC vs VXX: Correlation
Macerich Company (The) (MAC) 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 -0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAC and VXX?
On 3 years of weekly data the MAC/VXX correlation comes out at -0.55, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.41) than the 3-year average (-0.55). The 5-year figure is -0.48, and annualized covariance runs at -1237.0 %².
Out of 19 assets tracked against MAC, VXX lands near the bottom at #18. Their recent paths diverged sharply: over the last 12 months MAC outperformed by 84.2 percentage points (+34.5% for MAC against -49.7% for VXX). Risk is not evenly split, since VXX carries 1.7 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.
MAC vs VXX: side by side
| MAC (Macerich Company (The)) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.5% | -49.7% |
| 5-year return | +75.7% | -95.6% |
| Volatility (ann.) | 36.7% | 60.9% |
| Beta vs S&P 500 | 1.22 | -3.31 |
| Max drawdown (3Y) | -39.6% | -83.3% |
| Market cap | $7.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.81% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MAC | VXX |
|---|---|---|
| 2022 | -31.6% | -23.8% |
| 2023 | +45.7% | -72.5% |
| 2024 | +34.5% | -26.2% |
| 2025 | -3.7% | -42.2% |
| 2026 | +31.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAC and VXX good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between MAC and VXX?
The MAC/VXX correlation stands at -0.55 on a 3-year window (1 year: -0.41, 5 years: -0.48), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for MAC?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 mean?
On the −1 to +1 scale, -0.55 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/mac-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mac-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MAC correlations · VXX correlations
