REG vs VXX: Correlation
Measured on weekly returns over the past three years, Regency Centers (REG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REG and VXX?
Over the past 3 years, REG and VXX moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.03 versus -0.21 over 3 years. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -227.9 %².
VXX is close to the least connected end of REG's tracked universe, ranking #38 of 41. Their recent paths diverged sharply: over the last 12 months REG outperformed by 58.1 percentage points (+8.4% for REG against -49.7% for VXX). Note the risk asymmetry: VXX runs 3.4 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.
REG vs VXX: side by side
| REG (Regency Centers) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.4% | -49.7% |
| 5-year return | +35.2% | -95.6% |
| Volatility (ann.) | 17.8% | 60.9% |
| Beta vs S&P 500 | 0.34 | -3.31 |
| Max drawdown (3Y) | -15.1% | -83.3% |
| Market cap | $14.1B | – |
| P/E (trailing) | 25.5 | – |
| Dividend yield | 3.89% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | REG | VXX |
|---|---|---|
| 2022 | -13.6% | -23.8% |
| 2023 | +11.9% | -72.5% |
| 2024 | +14.9% | -26.2% |
| 2025 | -2.8% | -42.2% |
| 2026 | +11.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REG and VXX good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between REG and VXX?
The REG/VXX correlation stands at -0.21 on a 3-year window (1 year: 0.03, 5 years: -0.33), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for REG?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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/reg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/reg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: REG correlations · VXX correlations
