VXX vs WD: Correlation
iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Walker & Dunlop, Inc (WD) show a negative relationship: their 3-year correlation of weekly returns is -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WD?
On 3 years of weekly data the VXX/WD correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.14) than the 3-year average (-0.37). The 5-year figure is -0.41, and annualized covariance runs at -873.1 %².
By 3-year correlation, WD places #1694 of the 2872 assets tracked against VXX. Twelve-month performance is nearly a tie, at -49.7% for VXX and -51.0% for WD. 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.
VXX vs WD: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WD (Walker & Dunlop, Inc) | |
|---|---|---|
| 1-year return | -49.7% | -51.0% |
| 5-year return | -95.6% | -53.5% |
| Volatility (ann.) | 60.9% | 38.5% |
| Beta vs S&P 500 | -3.31 | 1.12 |
| Max drawdown (3Y) | -83.3% | -63.4% |
| Market cap | – | $1.4B |
| P/E (trailing) | – | 36.0 |
| Dividend yield | 0.00% | 6.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | WD |
|---|---|---|
| 2022 | -23.8% | -46.8% |
| 2023 | -72.5% | +46.0% |
| 2024 | -26.2% | -10.1% |
| 2025 | -42.2% | -35.9% |
| 2026 | -31.6% | -29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WD 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 VXX and WD?
The VXX/WD correlation stands at -0.37 on a 3-year window (1 year: -0.14, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is WD a good diversifier for VXX?
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/vxx-vs-wd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-wd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · WD correlations
