VXZ vs WELL: Correlation
Measured on weekly returns over the past three years, iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Welltower (WELL) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WELL?
Over the past 3 years, VXZ and WELL moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.11) than the 3-year average (-0.27). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -145.8 %².
Among the 2840 assets we track against VXZ, WELL ranks #657 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WELL ahead by 61.0 points (-16.1% versus +44.9%).
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.
VXZ vs WELL: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WELL (Welltower) | |
|---|---|---|
| 1-year return | -16.1% | +44.9% |
| 5-year return | -53.1% | +214.9% |
| Volatility (ann.) | 25.6% | 21.2% |
| Beta vs S&P 500 | -1.31 | 0.30 |
| Max drawdown (3Y) | -36.4% | -13.0% |
| Market cap | – | $172.6B |
| P/E (trailing) | – | 108.9 |
| Dividend yield | – | 1.27% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | VXZ | WELL |
|---|---|---|
| 2022 | +0.5% | -21.2% |
| 2023 | -44.0% | +41.8% |
| 2024 | -12.7% | +43.1% |
| 2025 | +5.7% | +49.9% |
| 2026 | -10.5% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WELL good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between VXZ and WELL?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.11 over the last year and -0.33 over 5 years.
Is WELL a good diversifier for VXZ?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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.
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Related comparisons
Hubs: VXZ correlations · WELL correlations
