IVT vs VXZ: Correlation
How closely do InvenTrust Properties Corp. (IVT) 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 -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IVT and VXZ?
On 3 years of weekly data the IVT/VXZ correlation comes out at -0.37, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.20 versus -0.37 over 3 years. The 5-year figure is -0.07, and annualized covariance runs at -170.1 %².
VXZ is close to the least connected end of IVT's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with IVT ahead by 29.6 points (+13.5% versus -16.1%).
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.
IVT vs VXZ: side by side
| IVT (InvenTrust Properties Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.5% | -16.1% |
| 5-year return | +2915.1% | -53.1% |
| Volatility (ann.) | 18.1% | 25.6% |
| Beta vs S&P 500 | 0.34 | -1.31 |
| Max drawdown (3Y) | -15.7% | -36.4% |
| Market cap | $2.5B | – |
| P/E (trailing) | 171.8 | – |
| Dividend yield | 2.98% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IVT | VXZ |
|---|---|---|
| 2022 | -10.3% | +0.5% |
| 2023 | +11.0% | -44.0% |
| 2024 | +23.0% | -12.7% |
| 2025 | -3.2% | +5.7% |
| 2026 | +17.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IVT and VXZ good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IVT and VXZ?
As of 2026-08-27, the correlation of weekly returns between IVT and VXZ is -0.37 over 3 years, -0.20 over 1 year and -0.07 over 5 years.
Is VXZ a good diversifier for IVT?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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/ivt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ivt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IVT correlations · VXZ correlations
