VXZ vs WPC: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and W. P. Carey Inc. REIT (WPC) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and WPC?
On 3 years of weekly data the VXZ/WPC correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.12 versus -0.26 over 3 years. The 5-year figure is -0.34, and annualized covariance runs at -141.3 %².
By 3-year correlation, WPC places #550 of the 2840 assets tracked against VXZ. Their recent paths diverged sharply: over the last 12 months WPC outperformed by 27.3 percentage points (-16.1% for VXZ against +11.2% for WPC).
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 WPC: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | WPC (W. P. Carey Inc. REIT) | |
|---|---|---|
| 1-year return | -16.1% | +11.2% |
| 5-year return | -53.1% | +23.0% |
| Volatility (ann.) | 25.6% | 20.9% |
| Beta vs S&P 500 | -1.31 | 0.30 |
| Max drawdown (3Y) | -36.4% | -19.6% |
| Market cap | – | $16.0B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | – | 5.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | WPC |
|---|---|---|
| 2022 | +0.5% | +0.5% |
| 2023 | -44.0% | -9.9% |
| 2024 | -12.7% | -10.6% |
| 2025 | +5.7% | +25.0% |
| 2026 | -10.5% | +12.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and WPC good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between VXZ and WPC?
As of 2026-08-27, the correlation of weekly returns between VXZ and WPC is -0.26 over 3 years, -0.12 over 1 year and -0.34 over 5 years.
Is WPC a good diversifier for VXZ?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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-wpc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-wpc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · WPC correlations
