REG vs VXZ: Correlation
How closely do Regency Centers (REG) 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 REG and VXZ?
Over the past 3 years, REG and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.30). Over 5 years the correlation is -0.43, and the annualized covariance of weekly returns is -138.7 %².
Out of 41 assets tracked against REG, VXZ lands near the bottom at #41. Their recent paths diverged sharply: over the last 12 months REG outperformed by 24.5 percentage points (+8.4% for REG 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.
REG vs VXZ: side by side
| REG (Regency Centers) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.4% | -16.1% |
| 5-year return | +35.2% | -53.1% |
| Volatility (ann.) | 17.8% | 25.6% |
| Beta vs S&P 500 | 0.34 | -1.31 |
| Max drawdown (3Y) | -15.1% | -36.4% |
| Market cap | $14.1B | – |
| P/E (trailing) | 25.5 | – |
| Dividend yield | 3.89% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | REG | VXZ |
|---|---|---|
| 2022 | -13.6% | +0.5% |
| 2023 | +11.9% | -44.0% |
| 2024 | +14.9% | -12.7% |
| 2025 | -2.8% | +5.7% |
| 2026 | +11.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.30, REG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between REG and VXZ?
As of 2026-08-27, the correlation of weekly returns between REG and VXZ is -0.30 over 3 years, -0.14 over 1 year and -0.43 over 5 years.
Is VXZ a good diversifier for REG?
Yes. With a correlation of -0.30, REG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/reg-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/reg-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: REG correlations · VXZ correlations
