NNN vs VXZ: Correlation
How closely do NNN REIT, Inc. (NNN) 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 -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NNN and VXZ?
Across a 3-year window, the weekly returns of NNN and VXZ correlate at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. Stretching to 5 years gives -0.39, with an annualized covariance of -122.4 %².
Among the 34 assets we track against NNN, VXZ sits near the bottom by co-movement, at rank #34. Their recent paths diverged sharply: over the last 12 months NNN outperformed by 29.2 percentage points (+13.1% for NNN 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.
NNN vs VXZ: side by side
| NNN (NNN REIT, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.1% | -16.1% |
| 5-year return | +25.1% | -53.1% |
| Volatility (ann.) | 18.8% | 25.6% |
| Beta vs S&P 500 | 0.31 | -1.31 |
| Max drawdown (3Y) | -22.0% | -36.4% |
| Market cap | $8.6B | – |
| P/E (trailing) | 22.3 | – |
| Dividend yield | 5.26% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NNN | VXZ |
|---|---|---|
| 2022 | -0.0% | +0.5% |
| 2023 | -0.6% | -44.0% |
| 2024 | -0.1% | -12.7% |
| 2025 | +2.8% | +5.7% |
| 2026 | +19.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NNN and VXZ good diversifiers for each other?
Yes. With a correlation of -0.25, NNN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NNN and VXZ?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.16 over the last year and -0.39 over 5 years.
Is VXZ a good diversifier for NNN?
Yes. With a correlation of -0.25, NNN and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/nnn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nnn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NNN correlations · VXZ correlations
