NXDT vs VXZ: Correlation
Measured on weekly returns over the past three years, NexPoint Diversified Real Estate Trust (NXDT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NXDT and VXZ?
Over the past 3 years, NXDT and VXZ moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -350.4 %².
VXZ is close to the least connected end of NXDT's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with NXDT ahead by 75.8 points (+59.7% versus -16.1%). Note the risk asymmetry: NXDT runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NXDT vs VXZ: side by side
| NXDT (NexPoint Diversified Real Estate Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +59.7% | -16.1% |
| 5-year return | -44.2% | -53.1% |
| Volatility (ann.) | 48.6% | 25.6% |
| Beta vs S&P 500 | 0.90 | -1.31 |
| Max drawdown (3Y) | -65.1% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 10.87% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NXDT | VXZ |
|---|---|---|
| 2022 | -14.0% | +0.5% |
| 2023 | -24.9% | -44.0% |
| 2024 | -15.0% | -12.7% |
| 2025 | -25.8% | +5.7% |
| 2026 | +51.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NXDT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, NXDT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between NXDT and VXZ?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.30 over the last year and -0.31 over 5 years.
Is VXZ a good diversifier for NXDT?
Yes. With a correlation of -0.28, NXDT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
A reading of -0.28 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/nxdt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nxdt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NXDT correlations · VXZ correlations
