RFI vs VXX: Correlation
Measured on weekly returns over the past three years, Cohen & Steers Total Return Realty Fund, Inc. (RFI) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.37, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RFI and VXX?
On 3 years of weekly data the RFI/VXX correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.24 versus -0.37 over 3 years. The 5-year figure is -0.40, and annualized covariance runs at -408.6 %².
Among the 39 assets we track against RFI, VXX sits near the bottom by co-movement, at rank #38. Correlation aside, the last 12 months split them widely, with RFI ahead by 53.4 points (+3.7% versus -49.7%). 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.
RFI vs VXX: side by side
| RFI (Cohen & Steers Total Return Realty Fund, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.7% | -49.7% |
| 5-year return | +5.1% | -95.6% |
| Volatility (ann.) | 18.1% | 60.9% |
| Beta vs S&P 500 | 0.57 | -3.31 |
| Max drawdown (3Y) | -16.2% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 27.1 | – |
| Dividend yield | 8.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RFI | VXX |
|---|---|---|
| 2022 | -22.1% | -23.8% |
| 2023 | +4.4% | -72.5% |
| 2024 | +6.6% | -26.2% |
| 2025 | +3.6% | -42.2% |
| 2026 | +8.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RFI and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between RFI and VXX?
As of 2026-08-27, the correlation of weekly returns between RFI and VXX is -0.37 over 3 years, -0.24 over 1 year and -0.40 over 5 years.
Is VXX a good diversifier for RFI?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/rfi-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rfi-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RFI correlations · VXX correlations
