SKT vs VXZ: Correlation
Tanger Inc. (SKT) 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 -0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKT and VXZ?
Across a 3-year window, the weekly returns of SKT and VXZ correlate at -0.39, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.39). Stretching to 5 years gives -0.38, with an annualized covariance of -234.2 %².
Among the 11 assets we track against SKT, VXZ sits near the bottom by co-movement, at rank #11. The last year tells two different stories: SKT led by 31.0 percentage points, +14.9% for SKT 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.
SKT vs VXZ: side by side
| SKT (Tanger Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.9% | -16.1% |
| 5-year return | +178.9% | -53.1% |
| Volatility (ann.) | 23.6% | 25.6% |
| Beta vs S&P 500 | 0.60 | -1.31 |
| Max drawdown (3Y) | -21.0% | -36.4% |
| Market cap | $4.5B | – |
| P/E (trailing) | 34.6 | – |
| Dividend yield | 3.18% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SKT | VXZ |
|---|---|---|
| 2022 | -2.3% | +0.5% |
| 2023 | +62.1% | -44.0% |
| 2024 | +27.7% | -12.7% |
| 2025 | +1.4% | +5.7% |
| 2026 | +15.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKT and VXZ good diversifiers for each other?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SKT and VXZ?
Using weekly returns as of 2026-08-27: -0.39 over 3 years, with -0.25 over the last year and -0.38 over 5 years.
Is VXZ a good diversifier for SKT?
Yes: at -0.39, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.39 mean?
A reading of -0.39 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/skt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/skt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SKT correlations · VXZ correlations
