When we have the generating functional $Z$ for a scalar field
\begin{equation} Z(J,J^{\dagger}) = \int{D\phi^{\dagger}D\phi \; \exp\left[{\int L+\phi^{\dagger}J(x)+J^{\dagger}(x)}\phi\right]}, \end{equation}
the partition function is $Z(0,0)$. We know that the derivatives of the generating functional give the propagator for the system, and it is often said that $Z(0,0)$ relates to the vacuum energy, and it is formally given by
\begin{equation} Z(0,0) = \langle 0,t_f|0,t_i \rangle. \end{equation}
How does this matrix element represent the vacuum energy of the system? Is it to do with the size of the fluctuations between the times $t_i$ and $t_f$? Or what is another interpretation of $Z(0,0)$?