MAA vs VXZ: Correlation
How closely do Mid-America Apartment Communities (MAA) 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 -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MAA and VXZ?
Over the past 3 years, MAA and VXZ moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.22) than the 3-year average (-0.34). Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -176.7 %².
Out of 31 assets tracked against MAA, VXZ lands near the bottom at #31. On 12-month performance MAA holds a 9.5-point edge, -6.6% against -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.
MAA vs VXZ: side by side
| MAA (Mid-America Apartment Communities) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.6% | -16.1% |
| 5-year return | -19.3% | -53.1% |
| Volatility (ann.) | 20.3% | 25.6% |
| Beta vs S&P 500 | 0.49 | -1.31 |
| Max drawdown (3Y) | -26.4% | -36.4% |
| Market cap | $15.3B | – |
| P/E (trailing) | 37.7 | – |
| Dividend yield | 4.63% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | MAA | VXZ |
|---|---|---|
| 2022 | -29.7% | +0.5% |
| 2023 | -11.1% | -44.0% |
| 2024 | +19.9% | -12.7% |
| 2025 | -6.4% | +5.7% |
| 2026 | -4.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MAA and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between MAA and VXZ?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.22 over the last year and -0.40 over 5 years.
Is VXZ a good diversifier for MAA?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
A reading of -0.34 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/maa-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/maa-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MAA correlations · VXZ correlations
