RMT vs VXZ: Correlation
Measured on weekly returns over the past three years, Royce Micro-Cap Trust, Inc. (RMT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.69, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMT and VXZ?
On 3 years of weekly data the RMT/VXZ correlation comes out at -0.69, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.63 lands near the 3-year figure. The 5-year figure is -0.69, and annualized covariance runs at -360.1 %².
Among the 136 assets we track against RMT, VXZ sits near the bottom by co-movement, at rank #136. Correlation aside, the last 12 months split them widely, with RMT ahead by 64.5 points (+48.4% 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.
RMT vs VXZ: side by side
| RMT (Royce Micro-Cap Trust, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +48.4% | -16.1% |
| 5-year return | +80.1% | -53.1% |
| Volatility (ann.) | 20.5% | 25.6% |
| Beta vs S&P 500 | 1.09 | -1.31 |
| Max drawdown (3Y) | -26.4% | -36.4% |
| Market cap | $0.8B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 5.57% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RMT | VXZ |
|---|---|---|
| 2022 | -16.8% | +0.5% |
| 2023 | +15.8% | -44.0% |
| 2024 | +14.0% | -12.7% |
| 2025 | +16.1% | +5.7% |
| 2026 | +39.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RMT and VXZ good diversifiers for each other?
Yes. With a correlation of -0.69, RMT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RMT and VXZ?
As of 2026-08-27, the correlation of weekly returns between RMT and VXZ is -0.69 over 3 years, -0.63 over 1 year and -0.69 over 5 years.
Is VXZ a good diversifier for RMT?
Yes. With a correlation of -0.69, RMT and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.69 mean?
A reading of -0.69 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/rmt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rmt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RMT correlations · VXZ correlations
