DLR vs VXZ: Correlation
How closely do Digital Realty (DLR) 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 DLR and VXZ?
Across a 3-year window, the weekly returns of DLR and VXZ correlate at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.16 versus -0.29 over 3 years. Stretching to 5 years gives -0.32, with an annualized covariance of -201.3 %².
Among the 30 assets we track against DLR, VXZ sits near the bottom by co-movement, at rank #29. The last year tells two different stories: DLR led by 32.5 percentage points, +16.4% for DLR 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.
DLR vs VXZ: side by side
| DLR (Digital Realty) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +16.4% | -16.1% |
| 5-year return | +40.3% | -53.1% |
| Volatility (ann.) | 27.1% | 25.6% |
| Beta vs S&P 500 | 0.73 | -1.31 |
| Max drawdown (3Y) | -29.4% | -36.4% |
| Market cap | $72.5B | – |
| P/E (trailing) | 94.2 | – |
| Dividend yield | 2.52% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DLR | VXZ |
|---|---|---|
| 2022 | -41.0% | +0.5% |
| 2023 | +39.9% | -44.0% |
| 2024 | +35.9% | -12.7% |
| 2025 | -10.1% | +5.7% |
| 2026 | +25.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and VXZ good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DLR and VXZ?
As of 2026-08-27, the correlation of weekly returns between DLR and VXZ is -0.29 over 3 years, -0.16 over 1 year and -0.32 over 5 years.
Is VXZ a good diversifier for DLR?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/dlr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dlr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DLR correlations · VXZ correlations
