OLP vs VXX: Correlation
How closely do One Liberty Properties, Inc. (OLP) 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 -0.35, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLP and VXX?
Over the past 3 years, OLP and VXX moved with a correlation of -0.35, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.13 versus -0.35 over 3 years. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -459.7 %².
Out of 28 assets tracked against OLP, VXX lands near the bottom at #27. Their recent paths diverged sharply: over the last 12 months OLP outperformed by 62.7 percentage points (+13.0% for OLP against -49.7% for VXX). Risk is not evenly split, since VXX carries 2.8 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.
OLP vs VXX: side by side
| OLP (One Liberty Properties, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.0% | -49.7% |
| 5-year return | +11.9% | -95.6% |
| Volatility (ann.) | 21.5% | 60.9% |
| Beta vs S&P 500 | 0.49 | -3.31 |
| Max drawdown (3Y) | -28.8% | -83.3% |
| Market cap | $0.5B | – |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 7.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLP | VXX |
|---|---|---|
| 2022 | -32.3% | -23.8% |
| 2023 | +7.6% | -72.5% |
| 2024 | +33.5% | -26.2% |
| 2025 | -19.6% | -42.2% |
| 2026 | +23.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLP and VXX good diversifiers for each other?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OLP and VXX?
Using weekly returns as of 2026-08-27: -0.35 over 3 years, with -0.13 over the last year and -0.37 over 5 years.
Is VXX a good diversifier for OLP?
Yes: at -0.35, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.35 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/olp-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/olp-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OLP correlations · VXX correlations
