CTO vs VXZ: Correlation
CTO Realty Growth, Inc. (CTO) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTO and VXZ?
Over the past 3 years, CTO and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.38 over 3. Over 5 years the correlation is -0.41, and the annualized covariance of weekly returns is -175.2 %².
VXZ is close to the least connected end of CTO's tracked universe, ranking #12 of 12. The last year tells two different stories: CTO led by 51.9 percentage points, +35.8% for CTO 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.
CTO vs VXZ: side by side
| CTO (CTO Realty Growth, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.8% | -16.1% |
| 5-year return | +74.0% | -53.1% |
| Volatility (ann.) | 18.0% | 25.6% |
| Beta vs S&P 500 | 0.39 | -1.31 |
| Max drawdown (3Y) | -21.4% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 15.8 | – |
| Dividend yield | 7.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CTO | VXZ |
|---|---|---|
| 2022 | -4.0% | +0.5% |
| 2023 | +3.7% | -44.0% |
| 2024 | +23.6% | -12.7% |
| 2025 | +1.6% | +5.7% |
| 2026 | +21.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between CTO and VXZ?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.33 over the last year and -0.41 over 5 years.
Is VXZ a good diversifier for CTO?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 mean?
On the −1 to +1 scale, -0.38 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/cto-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cto-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CTO correlations · VXZ correlations
