OLP vs VXZ: Correlation
One Liberty Properties, Inc. (OLP) 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 -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLP and VXZ?
On 3 years of weekly data the OLP/VXZ correlation comes out at -0.38, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.26 versus -0.38 over 3 years. The 5-year figure is -0.40, and annualized covariance runs at -209.6 %².
Among the 28 assets we track against OLP, VXZ sits near the bottom by co-movement, at rank #28. Their recent paths diverged sharply: over the last 12 months OLP outperformed by 29.1 percentage points (+13.0% for OLP 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.
OLP vs VXZ: side by side
| OLP (One Liberty Properties, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +13.0% | -16.1% |
| 5-year return | +11.9% | -53.1% |
| Volatility (ann.) | 21.5% | 25.6% |
| Beta vs S&P 500 | 0.49 | -1.31 |
| Max drawdown (3Y) | -28.8% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 7.44% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLP | VXZ |
|---|---|---|
| 2022 | -32.3% | +0.5% |
| 2023 | +7.6% | -44.0% |
| 2024 | +33.5% | -12.7% |
| 2025 | -19.6% | +5.7% |
| 2026 | +23.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLP and VXZ good diversifiers for each other?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between OLP and VXZ?
Using weekly returns as of 2026-08-27: -0.38 over 3 years, with -0.26 over the last year and -0.40 over 5 years.
Is VXZ a good diversifier for OLP?
Yes: at -0.38, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.38 mean?
A reading of -0.38 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/olp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/olp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OLP correlations · VXZ correlations
