BAM vs VXZ: Correlation
Brookfield Asset Management Inc Class A Limited Voting (BAM) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAM and VXZ?
On 3 years of weekly data the BAM/VXZ correlation comes out at -0.50, 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 (-0.50). The 5-year figure is -0.51, and annualized covariance runs at -364.3 %².
Out of 19 assets tracked against BAM, VXZ lands near the bottom at #17. The trailing year gives BAM the advantage: -10.6% versus -16.1%, a 5.5-point spread.
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 VXZ: side by side
| BAM (Brookfield Asset Management Inc Class A Limited Voting) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -10.6% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 28.2% | 25.6% |
| Beta vs S&P 500 | 1.35 | -1.31 |
| Max drawdown (3Y) | -30.4% | -36.4% |
| Market cap | $83.2B | – |
| P/E (trailing) | 29.9 | – |
| Dividend yield | 3.61% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAM | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | +45.6% | -44.0% |
| 2024 | +39.7% | -12.7% |
| 2025 | -0.2% | +5.7% |
| 2026 | +1.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAM and VXZ good diversifiers for each other?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BAM and VXZ?
As of 2026-08-27, the correlation of weekly returns between BAM and VXZ is -0.50 over 3 years, -0.35 over 1 year and -0.51 over 5 years.
Is VXZ a good diversifier for BAM?
Yes: at -0.50, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.50 mean?
A reading of -0.50 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/bam-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bam-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAM correlations · VXZ correlations
