LAND vs VXZ: Correlation
How closely do Gl (LAND) 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 -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAND and VXZ?
Across a 3-year window, the weekly returns of LAND and VXZ correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.27). Stretching to 5 years gives -0.33, with an annualized covariance of -184.2 %².
Among the 13 assets we track against LAND, VXZ sits near the bottom by co-movement, at rank #13. The last year tells two different stories: LAND led by 19.2 percentage points, +3.1% for LAND 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.
LAND vs VXZ: side by side
| LAND (Gl) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.1% | -16.1% |
| 5-year return | -53.7% | -53.1% |
| Volatility (ann.) | 26.6% | 25.6% |
| Beta vs S&P 500 | 0.52 | -1.31 |
| Max drawdown (3Y) | -41.6% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.31% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LAND | VXZ |
|---|---|---|
| 2022 | -44.4% | +0.5% |
| 2023 | -18.5% | -44.0% |
| 2024 | -21.6% | -12.7% |
| 2025 | -10.7% | +5.7% |
| 2026 | +0.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAND and VXZ good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LAND and VXZ?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.09 over the last year and -0.33 over 5 years.
Is VXZ a good diversifier for LAND?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/land-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/land-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LAND correlations · VXZ correlations
