SKT vs VXX: Correlation
How closely do Tanger Inc. (SKT) 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 -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKT and VXX?
Over the past 3 years, SKT and VXX moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.19) runs above the 3-year figure (-0.38). Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -552.1 %².
VXX is close to the least connected end of SKT's tracked universe, ranking #10 of 11. The last year tells two different stories: SKT led by 64.6 percentage points, +14.9% for SKT against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.6 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.
SKT vs VXX: side by side
| SKT (Tanger Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.9% | -49.7% |
| 5-year return | +178.9% | -95.6% |
| Volatility (ann.) | 23.6% | 60.9% |
| Beta vs S&P 500 | 0.60 | -3.31 |
| Max drawdown (3Y) | -21.0% | -83.3% |
| Market cap | $4.5B | – |
| P/E (trailing) | 34.6 | – |
| Dividend yield | 3.18% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SKT | VXX |
|---|---|---|
| 2022 | -2.3% | -23.8% |
| 2023 | +62.1% | -72.5% |
| 2024 | +27.7% | -26.2% |
| 2025 | +1.4% | -42.2% |
| 2026 | +15.7% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between SKT and VXX?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.19 over the last year and -0.32 over 5 years.
Is VXX a good diversifier for SKT?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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/skt-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/skt-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SKT correlations · VXX correlations
