PLD vs VXZ: Correlation
Prologis (PLD) 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 -0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLD and VXZ?
Across a 3-year window, the weekly returns of PLD and VXZ correlate at -0.44, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.44). Stretching to 5 years gives -0.45, with an annualized covariance of -291.2 %².
VXZ is close to the least connected end of PLD's tracked universe, ranking #40 of 40. Correlation aside, the last 12 months split them widely, with PLD ahead by 46.1 points (+30.0% versus -16.1%).
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.
PLD vs VXZ: side by side
| PLD (Prologis) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +30.0% | -16.1% |
| 5-year return | +22.5% | -53.1% |
| Volatility (ann.) | 25.8% | 25.6% |
| Beta vs S&P 500 | 0.90 | -1.31 |
| Max drawdown (3Y) | -31.4% | -36.4% |
| Market cap | $137.9B | – |
| P/E (trailing) | 31.7 | – |
| Dividend yield | 2.92% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | PLD | VXZ |
|---|---|---|
| 2022 | -31.3% | +0.5% |
| 2023 | +21.6% | -44.0% |
| 2024 | -18.1% | -12.7% |
| 2025 | +25.1% | +5.7% |
| 2026 | +12.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLD and VXZ good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PLD and VXZ?
The PLD/VXZ correlation stands at -0.44 on a 3-year window (1 year: -0.25, 5 years: -0.45), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for PLD?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 mean?
A reading of -0.44 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/pld-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pld-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PLD correlations · VXZ correlations
