CLDT vs VXZ: Correlation
Chatham Lodging Trust (REIT) (CLDT) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDT and VXZ?
Over the past 3 years, CLDT and VXZ moved with a correlation of -0.44, which is 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 (-0.44). Over 5 years the correlation is -0.42, and the annualized covariance of weekly returns is -330.2 %².
VXZ is close to the least connected end of CLDT's tracked universe, ranking #14 of 14. Correlation aside, the last 12 months split them widely, with CLDT ahead by 96.1 points (+80.0% versus -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.
CLDT vs VXZ: side by side
| CLDT (Chatham Lodging Trust (REIT)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +80.0% | -16.1% |
| 5-year return | +28.1% | -53.1% |
| Volatility (ann.) | 29.5% | 25.6% |
| Beta vs S&P 500 | 0.92 | -1.31 |
| Max drawdown (3Y) | -41.9% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 166.9 | – |
| Dividend yield | 2.81% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDT | VXZ |
|---|---|---|
| 2022 | -10.0% | +0.5% |
| 2023 | -10.1% | -44.0% |
| 2024 | -13.8% | -12.7% |
| 2025 | -19.9% | +5.7% |
| 2026 | +100.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between CLDT and VXZ?
As of 2026-08-27, the correlation of weekly returns between CLDT and VXZ is -0.44 over 3 years, -0.16 over 1 year and -0.42 over 5 years.
Is VXZ a good diversifier for CLDT?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 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/cldt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cldt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLDT correlations · VXZ correlations
