PGZ vs VXX: Correlation
Measured on weekly returns over the past three years, Principal Real Estate Income Fund (PGZ) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.42, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PGZ and VXX?
Over the past 3 years, PGZ and VXX moved with a correlation of -0.42, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.42 over 3. Over 5 years the correlation is -0.40, and the annualized covariance of weekly returns is -337.4 %².
VXX is close to the least connected end of PGZ's tracked universe, ranking #12 of 13. The last year tells two different stories: PGZ led by 57.3 percentage points, +7.6% for PGZ against -49.7% for VXX. One caveat on sizing: VXX is 4.6 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.
PGZ vs VXX: side by side
| PGZ (Principal Real Estate Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +7.6% | -49.7% |
| 5-year return | +14.2% | -95.6% |
| Volatility (ann.) | 13.2% | 60.9% |
| Beta vs S&P 500 | 0.42 | -3.31 |
| Max drawdown (3Y) | -10.6% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 10.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PGZ | VXX |
|---|---|---|
| 2022 | -28.0% | -23.8% |
| 2023 | +4.0% | -72.5% |
| 2024 | +18.0% | -26.2% |
| 2025 | +14.5% | -42.2% |
| 2026 | +7.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PGZ and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
FAQ
What is the correlation between PGZ and VXX?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.39 over the last year and -0.40 over 5 years.
Is VXX a good diversifier for PGZ?
By historical standards, yes. A correlation of -0.42 means the two rarely move for the same reasons.
What does a correlation of -0.42 mean?
A reading of -0.42 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/pgz-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pgz-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PGZ correlations · VXX correlations
