PSA vs VXZ: Correlation
How closely do Public Storage (PSA) 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 -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSA and VXZ?
Over the past 3 years, PSA and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -178.8 %².
Out of 33 assets tracked against PSA, VXZ lands near the bottom at #33. Correlation aside, the last 12 months split them widely, with PSA ahead by 27.4 points (+11.3% 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.
PSA vs VXZ: side by side
| PSA (Public Storage) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.3% | -16.1% |
| 5-year return | +20.9% | -53.1% |
| Volatility (ann.) | 23.0% | 25.6% |
| Beta vs S&P 500 | 0.59 | -1.31 |
| Max drawdown (3Y) | -25.6% | -36.4% |
| Market cap | $58.1B | – |
| P/E (trailing) | 30.3 | – |
| Dividend yield | 3.78% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | PSA | VXZ |
|---|---|---|
| 2022 | -20.2% | +0.5% |
| 2023 | +13.6% | -44.0% |
| 2024 | +2.1% | -12.7% |
| 2025 | -9.7% | +5.7% |
| 2026 | +22.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSA and VXZ good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PSA and VXZ?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.29 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for PSA?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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/psa-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/psa-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PSA correlations · VXZ correlations
