VXZ vs XRN: Correlation
How closely do iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) and Chiron Real Estate Inc. (XRN) trade together? Their weekly returns over three years give a correlation of -0.38, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VXZ and XRN?
Across a 3-year window, the weekly returns of VXZ and XRN correlate at -0.38, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Stretching to 5 years gives -0.44, with an annualized covariance of -289.8 %².
Among the 2840 assets we track against VXZ, XRN ranks #1750 by 3-year correlation. The last year tells two different stories: XRN led by 22.0 percentage points, -16.1% for VXZ against +5.9% for XRN.
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 XRN: side by side
| VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | XRN (Chiron Real Estate Inc.) | |
|---|---|---|
| 1-year return | -16.1% | +5.9% |
| 5-year return | -53.1% | -27.0% |
| Volatility (ann.) | 25.6% | 29.5% |
| Beta vs S&P 500 | -1.31 | 0.62 |
| Max drawdown (3Y) | -36.4% | -39.2% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 10.1 |
| Dividend yield | – | 6.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | VXZ | XRN |
|---|---|---|
| 2022 | +0.5% | -42.4% |
| 2023 | -44.0% | +27.9% |
| 2024 | -12.7% | -23.6% |
| 2025 | +5.7% | -4.1% |
| 2026 | -10.5% | +13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VXZ and XRN good diversifiers for each other?
Yes. With a correlation of -0.38, VXZ and XRN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between VXZ and XRN?
As of 2026-08-27, the correlation of weekly returns between VXZ and XRN is -0.38 over 3 years, -0.28 over 1 year and -0.44 over 5 years.
Is XRN a good diversifier for VXZ?
Yes. With a correlation of -0.38, VXZ and XRN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 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/vxz-vs-xrn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/vxz-vs-xrn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VXZ correlations · XRN correlations
