SLG vs VXX: Correlation
Measured on weekly returns over the past three years, SL Green Realty Corp (SLG) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SLG and VXX?
Over the past 3 years, SLG and VXX moved with a correlation of -0.43, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.26) runs above the 3-year figure (-0.43). Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -1073.9 %².
Out of 14 assets tracked against SLG, VXX lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with SLG ahead by 56.4 points (+6.7% versus -49.7%).
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.
SLG vs VXX: side by side
| SLG (SL Green Realty Corp) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +6.7% | -49.7% |
| 5-year return | +15.1% | -95.6% |
| Volatility (ann.) | 41.1% | 60.9% |
| Beta vs S&P 500 | 1.33 | -3.31 |
| Max drawdown (3Y) | -53.9% | -83.3% |
| Market cap | $4.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 5.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SLG | VXX |
|---|---|---|
| 2022 | -50.9% | -23.8% |
| 2023 | +48.8% | -72.5% |
| 2024 | +58.3% | -26.2% |
| 2025 | -29.0% | -42.2% |
| 2026 | +29.8% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SLG and VXX good diversifiers for each other?
Yes. With a correlation of -0.43, SLG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SLG and VXX?
As of 2026-08-27, the correlation of weekly returns between SLG and VXX is -0.43 over 3 years, -0.26 over 1 year and -0.41 over 5 years.
Is VXX a good diversifier for SLG?
Yes. With a correlation of -0.43, SLG and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 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/slg-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/slg-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SLG correlations · VXX correlations
