BAC vs VXZ: Correlation
How closely do Bank of America (BAC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.63, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAC and VXZ?
On 3 years of weekly data the BAC/VXZ correlation comes out at -0.63, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.47) runs above the 3-year figure (-0.63). The 5-year figure is -0.59, and annualized covariance runs at -426.1 %².
Among the 45 assets we track against BAC, VXZ sits near the bottom by co-movement, at rank #45. The last year tells two different stories: BAC led by 40.2 percentage points, +24.1% for BAC against -16.1% for VXZ.
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.
BAC vs VXZ: side by side
| BAC (Bank of America) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +24.1% | -16.1% |
| 5-year return | +66.0% | -53.1% |
| Volatility (ann.) | 26.5% | 25.6% |
| Beta vs S&P 500 | 1.11 | -1.31 |
| Max drawdown (3Y) | -27.5% | -36.4% |
| Market cap | $427.7B | – |
| P/E (trailing) | 14.1 | – |
| Dividend yield | 1.80% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BAC | VXZ |
|---|---|---|
| 2022 | -23.8% | +0.5% |
| 2023 | +4.8% | -44.0% |
| 2024 | +33.9% | -12.7% |
| 2025 | +28.0% | +5.7% |
| 2026 | +12.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.63, BAC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BAC and VXZ?
Using weekly returns as of 2026-08-27: -0.63 over 3 years, with -0.47 over the last year and -0.59 over 5 years.
Is VXZ a good diversifier for BAC?
Yes. With a correlation of -0.63, BAC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.63 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/bac-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bac-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAC correlations · VXZ correlations
