UDR vs VXZ: Correlation
Measured on weekly returns over the past three years, UDR, Inc. (UDR) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UDR and VXZ?
Across a 3-year window, the weekly returns of UDR and VXZ correlate at -0.43, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.21 versus -0.43 over 3 years. Stretching to 5 years gives -0.46, with an annualized covariance of -232.8 %².
VXZ is close to the least connected end of UDR's tracked universe, ranking #32 of 32. Correlation aside, the last 12 months split them widely, with UDR ahead by 15.5 points (-0.6% 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.
UDR vs VXZ: side by side
| UDR (UDR, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -0.6% | -16.1% |
| 5-year return | -15.5% | -53.1% |
| Volatility (ann.) | 21.1% | 25.6% |
| Beta vs S&P 500 | 0.54 | -1.31 |
| Max drawdown (3Y) | -24.9% | -36.4% |
| Market cap | $13.6B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 4.56% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | UDR | VXZ |
|---|---|---|
| 2022 | -33.4% | +0.5% |
| 2023 | +3.1% | -44.0% |
| 2024 | +18.3% | -12.7% |
| 2025 | -11.8% | +5.7% |
| 2026 | +4.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UDR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.43, UDR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between UDR and VXZ?
Using weekly returns as of 2026-08-27: -0.43 over 3 years, with -0.21 over the last year and -0.46 over 5 years.
Is VXZ a good diversifier for UDR?
Yes. With a correlation of -0.43, UDR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 mean?
On the −1 to +1 scale, -0.43 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/udr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/udr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: UDR correlations · VXZ correlations
