JRS vs VXZ: Correlation
Nuveen Real Estate Income Fund (JRS) 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 -0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JRS and VXZ?
On 3 years of weekly data the JRS/VXZ correlation comes out at -0.58, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.58 over 1 year against -0.58 over 3. The 5-year figure is -0.56, and annualized covariance runs at -315.5 %².
VXZ is close to the least connected end of JRS's tracked universe, ranking #49 of 49. The last year tells two different stories: JRS led by 30.5 percentage points, +14.4% for JRS 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.
JRS vs VXZ: side by side
| JRS (Nuveen Real Estate Income Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.4% | -16.1% |
| 5-year return | +13.5% | -53.1% |
| Volatility (ann.) | 21.1% | 25.6% |
| Beta vs S&P 500 | 0.79 | -1.31 |
| Max drawdown (3Y) | -25.3% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 8.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JRS | VXZ |
|---|---|---|
| 2022 | -35.6% | +0.5% |
| 2023 | +13.4% | -44.0% |
| 2024 | +19.7% | -12.7% |
| 2025 | -3.4% | +5.7% |
| 2026 | +15.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JRS and VXZ good diversifiers for each other?
Yes. With a correlation of -0.58, JRS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between JRS and VXZ?
The JRS/VXZ correlation stands at -0.58 on a 3-year window (1 year: -0.58, 5 years: -0.56), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for JRS?
Yes. With a correlation of -0.58, JRS and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.58 mean?
A reading of -0.58 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/jrs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/jrs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: JRS correlations · VXZ correlations
