RQI vs VXZ: Correlation
Measured on weekly returns over the past three years, Cohen & Steers Quality Income Realty Fund Inc (RQI) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RQI and VXZ?
Across a 3-year window, the weekly returns of RQI and VXZ correlate at -0.49, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.43) sits close to the 3-year figure. Stretching to 5 years gives -0.53, with an annualized covariance of -271.9 %².
VXZ is close to the least connected end of RQI's tracked universe, ranking #48 of 48. Correlation aside, the last 12 months split them widely, with RQI ahead by 24.7 points (+8.6% 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.
RQI vs VXZ: side by side
| RQI (Cohen & Steers Quality Income Realty Fund Inc) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +8.6% | -16.1% |
| 5-year return | +16.3% | -53.1% |
| Volatility (ann.) | 21.6% | 25.6% |
| Beta vs S&P 500 | 0.77 | -1.31 |
| Max drawdown (3Y) | -21.0% | -36.4% |
| Market cap | $1.7B | – |
| P/E (trailing) | 35.2 | – |
| Dividend yield | 7.74% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RQI | VXZ |
|---|---|---|
| 2022 | -31.1% | +0.5% |
| 2023 | +15.7% | -44.0% |
| 2024 | +8.0% | -12.7% |
| 2025 | +2.1% | +5.7% |
| 2026 | +14.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RQI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.49, RQI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RQI and VXZ?
As of 2026-08-27, the correlation of weekly returns between RQI and VXZ is -0.49 over 3 years, -0.43 over 1 year and -0.53 over 5 years.
Is VXZ a good diversifier for RQI?
Yes. With a correlation of -0.49, RQI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.49 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/rqi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rqi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RQI correlations · VXZ correlations
