FBRT vs VXZ: Correlation
Franklin BSP Realty Trust, Inc. (FBRT) 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 -0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBRT and VXZ?
On 3 years of weekly data the FBRT/VXZ correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.47 over 3. The 5-year figure is -0.45, and annualized covariance runs at -270.0 %².
VXZ is close to the least connected end of FBRT's tracked universe, ranking #15 of 15. Their 12-month results are close: -17.1% for FBRT 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.
FBRT vs VXZ: side by side
| FBRT (Franklin BSP Realty Trust, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -17.1% | -16.1% |
| 5-year return | -17.6% | -53.1% |
| Volatility (ann.) | 22.5% | 25.6% |
| Beta vs S&P 500 | 0.59 | -1.31 |
| Max drawdown (3Y) | -33.7% | -36.4% |
| Market cap | $0.7B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 13.14% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBRT | VXZ |
|---|---|---|
| 2022 | -3.9% | +0.5% |
| 2023 | +16.6% | -44.0% |
| 2024 | +3.7% | -12.7% |
| 2025 | -9.2% | +5.7% |
| 2026 | -12.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBRT and VXZ good diversifiers for each other?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FBRT and VXZ?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.39 over the last year and -0.45 over 5 years.
Is VXZ a good diversifier for FBRT?
Yes: at -0.47, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.47 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fbrt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbrt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBRT correlations · VXZ correlations
