FCPT vs VXZ: Correlation
Four Corners Property Trust, Inc. (FCPT) 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 -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCPT and VXZ?
Over the past 3 years, FCPT and VXZ moved with a correlation of -0.33, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.21) than the 3-year average (-0.33). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -146.2 %².
Among the 17 assets we track against FCPT, VXZ sits near the bottom by co-movement, at rank #17. Their recent paths diverged sharply: over the last 12 months FCPT outperformed by 19.9 percentage points (+3.8% for FCPT 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.
FCPT vs VXZ: side by side
| FCPT (Four Corners Property Trust, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.8% | -16.1% |
| 5-year return | +16.6% | -53.1% |
| Volatility (ann.) | 17.5% | 25.6% |
| Beta vs S&P 500 | 0.32 | -1.31 |
| Max drawdown (3Y) | -20.2% | -36.4% |
| Market cap | $2.8B | – |
| P/E (trailing) | 22.9 | – |
| Dividend yield | 5.75% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCPT | VXZ |
|---|---|---|
| 2022 | -7.2% | +0.5% |
| 2023 | +3.1% | -44.0% |
| 2024 | +13.1% | -12.7% |
| 2025 | -10.1% | +5.7% |
| 2026 | +13.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCPT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.33, FCPT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FCPT and VXZ?
As of 2026-08-27, the correlation of weekly returns between FCPT and VXZ is -0.33 over 3 years, -0.21 over 1 year and -0.39 over 5 years.
Is VXZ a good diversifier for FCPT?
Yes. With a correlation of -0.33, FCPT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 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/fcpt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcpt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCPT correlations · VXZ correlations
