ARL vs VXZ: Correlation
American Realty Investors, Inc. (ARL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARL and VXZ?
On 3 years of weekly data the ARL/VXZ correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.16) runs above the 3-year figure (-0.30). The 5-year figure is -0.18, and annualized covariance runs at -405.2 %².
Out of 10 assets tracked against ARL, VXZ lands near the bottom at #10. Over the last 12 months ARL came out ahead by 13.3 percentage points (-2.8% against -16.1%). One caveat on sizing: ARL is 2.1 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.
ARL vs VXZ: side by side
| ARL (American Realty Investors, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.8% | -16.1% |
| 5-year return | +36.2% | -53.1% |
| Volatility (ann.) | 52.7% | 25.6% |
| Beta vs S&P 500 | 0.99 | -1.31 |
| Max drawdown (3Y) | -57.8% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 29.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARL | VXZ |
|---|---|---|
| 2022 | +102.8% | +0.5% |
| 2023 | -32.1% | -44.0% |
| 2024 | -15.7% | -12.7% |
| 2025 | +9.4% | +5.7% |
| 2026 | -6.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARL and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between ARL and VXZ?
The ARL/VXZ correlation stands at -0.30 on a 3-year window (1 year: -0.16, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for ARL?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/arl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/arl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARL correlations · VXZ correlations
