GTY vs VXZ: Correlation
How closely do Getty Realty Corporation (GTY) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GTY and VXZ?
Over the past 3 years, GTY and VXZ moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.03) runs above the 3-year figure (-0.24). Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -114.4 %².
VXZ is close to the least connected end of GTY's tracked universe, ranking #19 of 19. Their recent paths diverged sharply: over the last 12 months GTY outperformed by 39.3 percentage points (+23.2% for GTY 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.
GTY vs VXZ: side by side
| GTY (Getty Realty Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.2% | -16.1% |
| 5-year return | +40.7% | -53.1% |
| Volatility (ann.) | 18.8% | 25.6% |
| Beta vs S&P 500 | 0.13 | -1.31 |
| Max drawdown (3Y) | -17.9% | -36.4% |
| Market cap | $2.0B | – |
| P/E (trailing) | 20.2 | – |
| Dividend yield | 5.79% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GTY | VXZ |
|---|---|---|
| 2022 | +11.7% | +0.5% |
| 2023 | -8.8% | -44.0% |
| 2024 | +9.9% | -12.7% |
| 2025 | -2.9% | +5.7% |
| 2026 | +24.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GTY and VXZ good diversifiers for each other?
Yes. With a correlation of -0.24, GTY and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GTY and VXZ?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.03 over the last year and -0.34 over 5 years.
Is VXZ a good diversifier for GTY?
Yes. With a correlation of -0.24, GTY and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/gty-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gty-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GTY correlations · VXZ correlations
