CDP vs VXZ: Correlation
How closely do COPT Defense Properties (CDP) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDP and VXZ?
Over the past 3 years, CDP and VXZ moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -148.8 %².
VXZ is close to the least connected end of CDP's tracked universe, ranking #11 of 11. The last year tells two different stories: CDP led by 50.5 percentage points, +34.4% for CDP against -16.1% for VXZ.
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.
CDP vs VXZ: side by side
| CDP (COPT Defense Properties) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +34.4% | -16.1% |
| 5-year return | +64.2% | -53.1% |
| Volatility (ann.) | 20.1% | 25.6% |
| Beta vs S&P 500 | 0.32 | -1.31 |
| Max drawdown (3Y) | -23.7% | -36.4% |
| Market cap | $4.3B | – |
| P/E (trailing) | 25.9 | – |
| Dividend yield | 3.35% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CDP | VXZ |
|---|---|---|
| 2022 | -3.3% | +0.5% |
| 2023 | +3.7% | -44.0% |
| 2024 | +26.2% | -12.7% |
| 2025 | -6.2% | +5.7% |
| 2026 | +36.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CDP and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between CDP and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.20 over the last year and -0.33 over 5 years.
Is VXZ a good diversifier for CDP?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cdp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cdp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CDP correlations · VXZ correlations
