MPT vs VXZ: Correlation
Medical Properties Trust, Inc. (MPT) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MPT and VXZ?
Over the past 3 years, MPT and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.31 over 3. Over 5 years the correlation is -0.37, and the annualized covariance of weekly returns is -421.0 %².
Among the 11 assets we track against MPT, VXZ sits near the bottom by co-movement, at rank #11. On 12-month performance MPT holds a 14.0-point edge, -2.1% against -16.1%. One caveat on sizing: MPT is 2.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MPT vs VXZ: side by side
| MPT (Medical Properties Trust, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.1% | -16.1% |
| 5-year return | -69.8% | -53.1% |
| Volatility (ann.) | 53.6% | 25.6% |
| Beta vs S&P 500 | 1.05 | -1.31 |
| Max drawdown (3Y) | -55.9% | -36.4% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 8.58% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MPT | VXZ |
|---|---|---|
| 2022 | -49.0% | +0.5% |
| 2023 | -50.3% | -44.0% |
| 2024 | -11.5% | -12.7% |
| 2025 | +35.2% | +5.7% |
| 2026 | -16.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MPT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, MPT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MPT and VXZ?
As of 2026-08-27, the correlation of weekly returns between MPT and VXZ is -0.31 over 3 years, -0.28 over 1 year and -0.37 over 5 years.
Is VXZ a good diversifier for MPT?
Yes. With a correlation of -0.31, MPT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/mpt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mpt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MPT correlations · VXZ correlations
