VXX vs XHR: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Xenia Hotels & Resorts, Inc. (XHR) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and XHR?
Over the past 3 years, VXX and XHR moved with a correlation of -0.50, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.17 versus -0.50 over 3 years. Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -915.6 %².
Among the 2872 assets we track against VXX, XHR ranks #2564 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XHR ahead by 89.9 points (-49.7% versus +40.2%). Risk is not evenly split, since VXX carries 2.0 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.
VXX vs XHR: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | XHR (Xenia Hotels & Resorts, Inc.) | |
|---|---|---|
| 1-year return | -49.7% | +40.2% |
| 5-year return | -95.6% | +29.3% |
| Volatility (ann.) | 60.9% | 30.0% |
| Beta vs S&P 500 | -3.31 | 0.97 |
| Max drawdown (3Y) | -83.3% | -42.5% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | XHR |
|---|---|---|
| 2022 | -23.8% | -26.1% |
| 2023 | -72.5% | +6.7% |
| 2024 | -26.2% | +12.7% |
| 2025 | -42.2% | -0.7% |
| 2026 | -31.6% | +38.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and XHR good diversifiers for each other?
Yes. With a correlation of -0.50, VXX and XHR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and XHR?
As of 2026-08-27, the correlation of weekly returns between VXX and XHR is -0.50 over 3 years, -0.17 over 1 year and -0.43 over 5 years.
Is XHR a good diversifier for VXX?
Yes. With a correlation of -0.50, VXX and XHR have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.50 mean?
On the −1 to +1 scale, -0.50 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-xhr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/vxx-vs-xhr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · XHR correlations
