CBRE vs VXZ: Correlation
CBRE Group (CBRE) 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 -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CBRE and VXZ?
On 3 years of weekly data the CBRE/VXZ correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.40 lands near the 3-year figure. The 5-year figure is -0.48, and annualized covariance runs at -349.4 %².
Among the 41 assets we track against CBRE, VXZ sits near the bottom by co-movement, at rank #41. On 12-month performance CBRE holds a 6.4-point edge, -9.7% against -16.1%.
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.
CBRE vs VXZ: side by side
| CBRE (CBRE Group) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.7% | -16.1% |
| 5-year return | +53.3% | -53.1% |
| Volatility (ann.) | 30.4% | 25.6% |
| Beta vs S&P 500 | 1.04 | -1.31 |
| Max drawdown (3Y) | -27.4% | -36.4% |
| Market cap | $42.6B | – |
| P/E (trailing) | 34.4 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | CBRE | VXZ |
|---|---|---|
| 2022 | -29.1% | +0.5% |
| 2023 | +21.0% | -44.0% |
| 2024 | +41.0% | -12.7% |
| 2025 | +22.5% | +5.7% |
| 2026 | -8.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CBRE and VXZ good diversifiers for each other?
Yes. With a correlation of -0.45, CBRE and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CBRE and VXZ?
Using weekly returns as of 2026-08-27: -0.45 over 3 years, with -0.40 over the last year and -0.48 over 5 years.
Is VXZ a good diversifier for CBRE?
Yes. With a correlation of -0.45, CBRE and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.45 mean?
A reading of -0.45 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/cbre-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cbre-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CBRE correlations · VXZ correlations
