OUT vs VXX: Correlation
Measured on weekly returns over the past three years, OUTFRONT Media Inc. (OUT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OUT and VXX?
Across a 3-year window, the weekly returns of OUT and VXX correlate at -0.42, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.42). Stretching to 5 years gives -0.43, with an annualized covariance of -960.6 %².
Among the 15 assets we track against OUT, VXX sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months OUT outperformed by 116.5 percentage points (+66.8% for OUT against -49.7% for VXX). One caveat on sizing: VXX is 1.6 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.
OUT vs VXX: side by side
| OUT (OUTFRONT Media Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +66.8% | -49.7% |
| 5-year return | +65.9% | -95.6% |
| Volatility (ann.) | 37.2% | 60.9% |
| Beta vs S&P 500 | 1.22 | -3.31 |
| Max drawdown (3Y) | -32.0% | -83.3% |
| Market cap | $5.3B | – |
| P/E (trailing) | 21.9 | – |
| Dividend yield | 3.92% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OUT | VXX |
|---|---|---|
| 2022 | -34.4% | -23.8% |
| 2023 | -8.0% | -72.5% |
| 2024 | +40.6% | -26.2% |
| 2025 | +41.5% | -42.2% |
| 2026 | +27.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OUT and VXX good diversifiers for each other?
Yes. With a correlation of -0.42, OUT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OUT and VXX?
As of 2026-08-27, the correlation of weekly returns between OUT and VXX is -0.42 over 3 years, -0.16 over 1 year and -0.43 over 5 years.
Is VXX a good diversifier for OUT?
Yes. With a correlation of -0.42, OUT and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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/out-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/out-vs-vxx/)
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Related comparisons
Hubs: OUT correlations · VXX correlations
