VXX vs WELL: Correlation
How closely do iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Welltower (WELL) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and WELL?
Over the past 3 years, VXX and WELL moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.01) than the 3-year average (-0.20). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -264.0 %².
By 3-year correlation, WELL places #61 of the 2872 assets tracked against VXX. Correlation aside, the last 12 months split them widely, with WELL ahead by 94.6 points (-49.7% versus +44.9%). Note the risk asymmetry: VXX runs 2.9 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.
VXX vs WELL: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | WELL (Welltower) | |
|---|---|---|
| 1-year return | -49.7% | +44.9% |
| 5-year return | -95.6% | +214.9% |
| Volatility (ann.) | 60.9% | 21.2% |
| Beta vs S&P 500 | -3.31 | 0.30 |
| Max drawdown (3Y) | -83.3% | -13.0% |
| Market cap | – | $172.6B |
| P/E (trailing) | – | 108.9 |
| Dividend yield | 0.00% | 1.27% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | VXX | WELL |
|---|---|---|
| 2022 | -23.8% | -21.2% |
| 2023 | -72.5% | +41.8% |
| 2024 | -26.2% | +43.1% |
| 2025 | -42.2% | +49.9% |
| 2026 | -31.6% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and WELL good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXX and WELL?
The VXX/WELL correlation stands at -0.20 on a 3-year window (1 year: 0.01, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is WELL a good diversifier for VXX?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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.
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Related comparisons
Hubs: VXX correlations · WELL correlations
