REAL vs VXZ: Correlation
The RealReal, Inc. (REAL) 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 -0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REAL and VXZ?
Across a 3-year window, the weekly returns of REAL and VXZ correlate at -0.36, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.39 over 1 year against -0.36 over 3. Stretching to 5 years gives -0.41, with an annualized covariance of -820.6 %².
VXZ is close to the least connected end of REAL's tracked universe, ranking #11 of 11. Their recent paths diverged sharply: over the last 12 months REAL outperformed by 59.6 percentage points (+43.5% for REAL against -16.1% for VXZ). Risk is not evenly split, since REAL carries 3.5 times the volatility of the other side.
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.
REAL vs VXZ: side by side
| REAL (The RealReal, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +43.5% | -16.1% |
| 5-year return | -17.2% | -53.1% |
| Volatility (ann.) | 88.9% | 25.6% |
| Beta vs S&P 500 | 2.33 | -1.31 |
| Max drawdown (3Y) | -57.2% | -36.4% |
| Market cap | $1.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | REAL | VXZ |
|---|---|---|
| 2022 | -89.2% | +0.5% |
| 2023 | +60.8% | -44.0% |
| 2024 | +443.8% | -12.7% |
| 2025 | +44.4% | +5.7% |
| 2026 | -30.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REAL and VXZ good diversifiers for each other?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between REAL and VXZ?
The REAL/VXZ correlation stands at -0.36 on a 3-year window (1 year: -0.39, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for REAL?
Yes: at -0.36, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.36 mean?
On the −1 to +1 scale, -0.36 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/real-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/real-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: REAL correlations · VXZ correlations
