RYN vs VXZ: Correlation
Measured on weekly returns over the past three years, Rayonier Inc. REIT (RYN) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.36, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RYN and VXZ?
On 3 years of weekly data the RYN/VXZ correlation comes out at -0.36, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.26) sits close to the 3-year figure. The 5-year figure is -0.38, and annualized covariance runs at -235.0 %².
Out of 12 assets tracked against RYN, VXZ lands near the bottom at #12. Their 12-month results are close: -13.1% for RYN 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.
RYN vs VXZ: side by side
| RYN (Rayonier Inc. REIT) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -13.1% | -16.1% |
| 5-year return | -23.3% | -53.1% |
| Volatility (ann.) | 25.6% | 25.6% |
| Beta vs S&P 500 | 0.57 | -1.31 |
| Max drawdown (3Y) | -31.5% | -36.4% |
| Market cap | $6.2B | – |
| P/E (trailing) | 44.8 | – |
| Dividend yield | 5.12% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RYN | VXZ |
|---|---|---|
| 2022 | -15.8% | +0.5% |
| 2023 | +5.8% | -44.0% |
| 2024 | -14.0% | -12.7% |
| 2025 | -8.0% | +5.7% |
| 2026 | -2.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RYN 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 RYN and VXZ?
Using weekly returns as of 2026-08-27: -0.36 over 3 years, with -0.26 over the last year and -0.38 over 5 years.
Is VXZ a good diversifier for RYN?
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?
A reading of -0.36 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/ryn-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ryn-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RYN correlations · VXZ correlations
