BAM vs VXX: Correlation
How closely do Brookfield Asset Management Inc Class A Limited Voting (BAM) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.52, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAM and VXX?
Over the past 3 years, BAM and VXX moved with a correlation of -0.52, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.35) runs above the 3-year figure (-0.52). Over 5 years the correlation is -0.52, and the annualized covariance of weekly returns is -887.6 %².
Out of 19 assets tracked against BAM, VXX lands near the bottom at #18. The last year tells two different stories: BAM led by 39.1 percentage points, -10.6% for BAM against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BAM vs VXX: side by side
| BAM (Brookfield Asset Management Inc Class A Limited Voting) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -10.6% | -49.7% |
| 5-year return | n/a | -95.6% |
| Volatility (ann.) | 28.2% | 60.9% |
| Beta vs S&P 500 | 1.35 | -3.31 |
| Max drawdown (3Y) | -30.4% | -83.3% |
| Market cap | $83.2B | – |
| P/E (trailing) | 29.9 | – |
| Dividend yield | 3.61% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAM | VXX |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | +45.6% | -72.5% |
| 2024 | +39.7% | -26.2% |
| 2025 | -0.2% | -42.2% |
| 2026 | +1.5% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAM and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
FAQ
What is the correlation between BAM and VXX?
The BAM/VXX correlation stands at -0.52 on a 3-year window (1 year: -0.35, 5 years: -0.52), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BAM?
By historical standards, yes. A correlation of -0.52 means the two rarely move for the same reasons.
What does a correlation of -0.52 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/bam-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bam-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BAM correlations · VXX correlations
