DOC vs VXZ: Correlation
Measured on weekly returns over the past three years, Healthpeak Properties (DOC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DOC and VXZ?
Over the past 3 years, DOC and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.12) runs above the 3-year figure (-0.31). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -217.1 %².
VXZ is close to the least connected end of DOC's tracked universe, ranking #35 of 35. Correlation aside, the last 12 months split them widely, with DOC ahead by 42.8 points (+26.7% 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.
DOC vs VXZ: side by side
| DOC (Healthpeak Properties) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +26.7% | -16.1% |
| 5-year return | -21.6% | -53.1% |
| Volatility (ann.) | 27.1% | 25.6% |
| Beta vs S&P 500 | 0.53 | -1.31 |
| Max drawdown (3Y) | -26.0% | -36.4% |
| Market cap | $15.0B | – |
| P/E (trailing) | 62.4 | – |
| Dividend yield | 5.65% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | DOC | VXZ |
|---|---|---|
| 2022 | -27.5% | +0.5% |
| 2023 | -16.4% | -44.0% |
| 2024 | +8.8% | -12.7% |
| 2025 | -15.2% | +5.7% |
| 2026 | +37.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DOC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between DOC and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.12 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for DOC?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/doc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/doc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DOC correlations · VXZ correlations
