ESRT vs VXZ: Correlation
Measured on weekly returns over the past three years, Empire State Realty Trust, Inc. (ESRT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESRT and VXZ?
Across a 3-year window, the weekly returns of ESRT and VXZ correlate at -0.47, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.49 lands near the 3-year figure. Stretching to 5 years gives -0.50, with an annualized covariance of -369.0 %².
Out of 11 assets tracked against ESRT, VXZ lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with VXZ ahead by 21.5 points (-37.6% 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.
ESRT vs VXZ: side by side
| ESRT (Empire State Realty Trust, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -37.6% | -16.1% |
| 5-year return | -50.4% | -53.1% |
| Volatility (ann.) | 31.0% | 25.6% |
| Beta vs S&P 500 | 0.87 | -1.31 |
| Max drawdown (3Y) | -58.1% | -36.4% |
| Market cap | $1.4B | – |
| P/E (trailing) | 232.0 | – |
| Dividend yield | 2.97% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESRT | VXZ |
|---|---|---|
| 2022 | -22.8% | +0.5% |
| 2023 | +46.3% | -44.0% |
| 2024 | +8.0% | -12.7% |
| 2025 | -35.7% | +5.7% |
| 2026 | -27.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESRT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between ESRT and VXZ?
As of 2026-08-27, the correlation of weekly returns between ESRT and VXZ is -0.47 over 3 years, -0.49 over 1 year and -0.50 over 5 years.
Is VXZ a good diversifier for ESRT?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 mean?
A reading of -0.47 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/esrt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esrt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ESRT correlations · VXZ correlations
