FRT vs VXZ: Correlation
Federal Realty Investment Trust (FRT) 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 -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRT and VXZ?
On 3 years of weekly data the FRT/VXZ correlation comes out at -0.42, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.42 over 3. The 5-year figure is -0.49, and annualized covariance runs at -209.7 %².
VXZ is close to the least connected end of FRT's tracked universe, ranking #46 of 46. The last year tells two different stories: FRT led by 37.7 percentage points, +21.6% for FRT 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.
FRT vs VXZ: side by side
| FRT (Federal Realty Investment Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +21.6% | -16.1% |
| 5-year return | +18.8% | -53.1% |
| Volatility (ann.) | 19.5% | 25.6% |
| Beta vs S&P 500 | 0.53 | -1.31 |
| Max drawdown (3Y) | -27.4% | -36.4% |
| Market cap | $10.2B | – |
| P/E (trailing) | 23.6 | – |
| Dividend yield | 3.84% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | FRT | VXZ |
|---|---|---|
| 2022 | -22.7% | +0.5% |
| 2023 | +6.6% | -44.0% |
| 2024 | +12.1% | -12.7% |
| 2025 | -5.9% | +5.7% |
| 2026 | +19.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRT and VXZ good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRT and VXZ?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.32 over the last year and -0.49 over 5 years.
Is VXZ a good diversifier for FRT?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 mean?
On the −1 to +1 scale, -0.42 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/frt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRT correlations · VXZ correlations
