VICI vs VXZ: Correlation
Vici Properties (VICI) 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 -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VICI and VXZ?
Across a 3-year window, the weekly returns of VICI and VXZ correlate at -0.31, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.34) sits close to the 3-year figure. Stretching to 5 years gives -0.42, with an annualized covariance of -142.8 %².
VXZ is close to the least connected end of VICI's tracked universe, ranking #40 of 40. Their 12-month results are close: -18.7% for VICI 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.
VICI vs VXZ: side by side
| VICI (Vici Properties) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -18.7% | -16.1% |
| 5-year return | +9.9% | -53.1% |
| Volatility (ann.) | 18.0% | 25.6% |
| Beta vs S&P 500 | 0.35 | -1.31 |
| Max drawdown (3Y) | -19.1% | -36.4% |
| Market cap | $28.4B | – |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 6.92% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | VICI | VXZ |
|---|---|---|
| 2022 | +13.0% | +0.5% |
| 2023 | +3.6% | -44.0% |
| 2024 | -3.1% | -12.7% |
| 2025 | +1.9% | +5.7% |
| 2026 | -5.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VICI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.31, VICI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VICI and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.34 over the last year and -0.42 over 5 years.
Is VXZ a good diversifier for VICI?
Yes. With a correlation of -0.31, VICI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
A reading of -0.31 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/vici-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vici-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: VICI correlations · VXZ correlations
