LXP vs VXZ: Correlation
LXP Industrial Trust (LXP) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXP and VXZ?
On 3 years of weekly data the LXP/VXZ correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.41) sits close to the 3-year figure. The 5-year figure is -0.46, and annualized covariance runs at -253.4 %².
Out of 12 assets tracked against LXP, VXZ lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months LXP outperformed by 58.3 percentage points (+42.2% for LXP 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.
LXP vs VXZ: side by side
| LXP (LXP Industrial Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +42.2% | -16.1% |
| 5-year return | +17.3% | -53.1% |
| Volatility (ann.) | 22.4% | 25.6% |
| Beta vs S&P 500 | 0.62 | -1.31 |
| Max drawdown (3Y) | -27.8% | -36.4% |
| Market cap | $3.6B | – |
| P/E (trailing) | 61.7 | – |
| Dividend yield | 4.55% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LXP | VXZ |
|---|---|---|
| 2022 | -33.0% | +0.5% |
| 2023 | +4.3% | -44.0% |
| 2024 | -13.2% | -12.7% |
| 2025 | +29.8% | +5.7% |
| 2026 | +26.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXP and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between LXP and VXZ?
As of 2026-08-27, the correlation of weekly returns between LXP and VXZ is -0.44 over 3 years, -0.41 over 1 year and -0.46 over 5 years.
Is VXZ a good diversifier for LXP?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 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/lxp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lxp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LXP correlations · VXZ correlations
