UHT vs VXZ: Correlation
How closely do Universal Health Realty Income Trust (UHT) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.36, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are UHT and VXZ?
Over the past 3 years, UHT and VXZ moved with a correlation of -0.36, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.18) than the 3-year average (-0.36). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -235.8 %².
Among the 11 assets we track against UHT, VXZ sits near the bottom by co-movement, at rank #11. The last year tells two different stories: UHT led by 25.5 percentage points, +9.4% for UHT 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.
UHT vs VXZ: side by side
| UHT (Universal Health Realty Income Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +9.4% | -16.1% |
| 5-year return | -3.5% | -53.1% |
| Volatility (ann.) | 25.4% | 25.6% |
| Beta vs S&P 500 | 0.40 | -1.31 |
| Max drawdown (3Y) | -27.9% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 30.2 | – |
| Dividend yield | 7.07% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | UHT | VXZ |
|---|---|---|
| 2022 | -15.3% | +0.5% |
| 2023 | -3.6% | -44.0% |
| 2024 | -7.4% | -12.7% |
| 2025 | +13.3% | +5.7% |
| 2026 | +9.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are UHT 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 UHT and VXZ?
The UHT/VXZ correlation stands at -0.36 on a 3-year window (1 year: -0.18, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for UHT?
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?
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/uht-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/uht-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: UHT correlations · VXZ correlations
