EXR vs VXZ: Correlation
Extra Space Storage (EXR) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXR and VXZ?
Across a 3-year window, the weekly returns of EXR and VXZ correlate at -0.36, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.34 over 1 year against -0.36 over 3. Stretching to 5 years gives -0.36, with an annualized covariance of -238.5 %².
Out of 33 assets tracked against EXR, VXZ lands near the bottom at #33. Their recent paths diverged sharply: over the last 12 months EXR outperformed by 21.7 percentage points (+5.6% for EXR 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.
EXR vs VXZ: side by side
| EXR (Extra Space Storage) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.6% | -16.1% |
| 5-year return | -6.1% | -53.1% |
| Volatility (ann.) | 26.0% | 25.6% |
| Beta vs S&P 500 | 0.68 | -1.31 |
| Max drawdown (3Y) | -29.4% | -36.4% |
| Market cap | $31.5B | – |
| P/E (trailing) | 31.6 | – |
| Dividend yield | 4.50% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | EXR | VXZ |
|---|---|---|
| 2022 | -32.8% | +0.5% |
| 2023 | +13.9% | -44.0% |
| 2024 | -2.8% | -12.7% |
| 2025 | -8.9% | +5.7% |
| 2026 | +12.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXR and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
FAQ
What is the correlation between EXR and VXZ?
As of 2026-08-27, the correlation of weekly returns between EXR and VXZ is -0.36 over 3 years, -0.34 over 1 year and -0.36 over 5 years.
Is VXZ a good diversifier for EXR?
By historical standards, yes. A correlation of -0.36 means the two rarely move for the same reasons.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 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/exr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXR correlations · VXZ correlations
