VXX vs XRN: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) and Chiron Real Estate Inc. (XRN) carry a correlation of -0.35, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXX and XRN?
On 3 years of weekly data the VXX/XRN correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.35). The 5-year figure is -0.37, and annualized covariance runs at -627.2 %².
Among the 2872 assets we track against VXX, XRN ranks #1529 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XRN ahead by 55.6 points (-49.7% versus +5.9%). Note the risk asymmetry: VXX runs 2.1 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 XRN: side by side
| VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | XRN (Chiron Real Estate Inc.) | |
|---|---|---|
| 1-year return | -49.7% | +5.9% |
| 5-year return | -95.6% | -27.0% |
| Volatility (ann.) | 60.9% | 29.5% |
| Beta vs S&P 500 | -3.31 | 0.62 |
| Max drawdown (3Y) | -83.3% | -39.2% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 10.1 |
| Dividend yield | 0.00% | 6.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXX | XRN |
|---|---|---|
| 2022 | -23.8% | -42.4% |
| 2023 | -72.5% | +27.9% |
| 2024 | -26.2% | -23.6% |
| 2025 | -42.2% | -4.1% |
| 2026 | -31.6% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXX and XRN good diversifiers for each other?
Yes. With a correlation of -0.35, VXX and XRN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXX and XRN?
As of 2026-08-27, the correlation of weekly returns between VXX and XRN is -0.35 over 3 years, -0.13 over 1 year and -0.37 over 5 years.
Is XRN a good diversifier for VXX?
Yes. With a correlation of -0.35, VXX and XRN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
A reading of -0.35 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vxx-vs-xrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxx-vs-xrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXX correlations · XRN correlations
