IRT vs VXZ: Correlation
Independence Realty Trust, Inc. (IRT) 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 IRT and VXZ?
On 3 years of weekly data the IRT/VXZ correlation comes out at -0.47, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.19) than the 3-year average (-0.47). The 5-year figure is -0.45, and annualized covariance runs at -297.8 %².
Among the 16 assets we track against IRT, VXZ sits near the bottom by co-movement, at rank #16. The trailing year gives IRT the advantage: -3.5% versus -16.1%, a 12.6-point spread.
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.
IRT vs VXZ: side by side
| IRT (Independence Realty Trust, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.5% | -16.1% |
| 5-year return | -4.5% | -53.1% |
| Volatility (ann.) | 24.8% | 25.6% |
| Beta vs S&P 500 | 0.74 | -1.31 |
| Max drawdown (3Y) | -29.0% | -36.4% |
| Market cap | $4.0B | – |
| P/E (trailing) | 91.1 | – |
| Dividend yield | 4.15% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRT | VXZ |
|---|---|---|
| 2022 | -32.3% | +0.5% |
| 2023 | -5.6% | -44.0% |
| 2024 | +34.3% | -12.7% |
| 2025 | -8.5% | +5.7% |
| 2026 | -4.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between IRT and VXZ?
Using weekly returns as of 2026-08-27: -0.47 over 3 years, with -0.19 over the last year and -0.45 over 5 years.
Is VXZ a good diversifier for IRT?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 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/irt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/irt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IRT correlations · VXZ correlations
