JLL vs VXZ: Correlation
How closely do Jones Lang LaSalle Incorporated (JLL) 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 -0.51, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JLL and VXZ?
Across a 3-year window, the weekly returns of JLL and VXZ correlate at -0.51, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.37) than the 3-year average (-0.51). Stretching to 5 years gives -0.52, with an annualized covariance of -455.1 %².
VXZ is close to the least connected end of JLL's tracked universe, ranking #26 of 26. Correlation aside, the last 12 months split them widely, with JLL ahead by 39.9 points (+23.8% 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.
JLL vs VXZ: side by side
| JLL (Jones Lang LaSalle Incorporated) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +23.8% | -16.1% |
| 5-year return | +55.9% | -53.1% |
| Volatility (ann.) | 34.9% | 25.6% |
| Beta vs S&P 500 | 1.30 | -1.31 |
| Max drawdown (3Y) | -30.6% | -36.4% |
| Market cap | $17.4B | – |
| P/E (trailing) | 18.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JLL | VXZ |
|---|---|---|
| 2022 | -40.8% | +0.5% |
| 2023 | +18.5% | -44.0% |
| 2024 | +34.0% | -12.7% |
| 2025 | +32.9% | +5.7% |
| 2026 | +12.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JLL and VXZ good diversifiers for each other?
Yes: at -0.51, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between JLL and VXZ?
Using weekly returns as of 2026-08-27: -0.51 over 3 years, with -0.37 over the last year and -0.52 over 5 years.
Is VXZ a good diversifier for JLL?
Yes: at -0.51, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.51 mean?
On the −1 to +1 scale, -0.51 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/jll-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jll-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JLL correlations · VXZ correlations
