VXZ vs WHLR: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Wheeler Real Estate Investment Trust, Inc. (WHLR) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WHLR?
On 3 years of weekly data the VXZ/WHLR correlation comes out at 0.21, weak. The past 12 months show a weaker link (-0.07) than the 3-year average (0.21). The 5-year figure is 0.15, and annualized covariance runs at 2930.8 %².
Few assets follow VXZ as closely as WHLR, which ranks #3 of 2840 tracked partners. Correlation aside, the last 12 months split them widely, with VXZ ahead by 83.9 points (-16.1% versus -100.0%). One caveat on sizing: WHLR is 21.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WHLR: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | -16.1% | -100.0% |
| 5-year return | -53.1% | -100.0% |
| Volatility (ann.) | 25.6% | 545.0% |
| Beta vs S&P 500 | -1.31 | -5.84 |
| Max drawdown (3Y) | -36.4% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | – | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WHLR |
|---|---|---|
| 2022 | +0.5% | -28.0% |
| 2023 | -44.0% | -98.4% |
| 2024 | -12.7% | -98.4% |
| 2025 | +5.7% | -100.0% |
| 2026 | -10.5% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WHLR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between VXZ and WHLR?
Using weekly returns as of 2026-08-27: 0.21 over 3 years, with -0.07 over the last year and 0.15 over 5 years.
Is WHLR a good diversifier for VXZ?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
A reading of 0.21 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/vxz-vs-whlr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vxz-vs-whlr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WHLR correlations
