BANC vs VXZ: Correlation
Banc of California, Inc. (BANC) 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 -0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BANC and VXZ?
Over the past 3 years, BANC and VXZ moved with a correlation of -0.53, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.38 versus -0.53 over 3 years. Over 5 years the correlation is -0.54, and the annualized covariance of weekly returns is -455.8 %².
Out of 14 assets tracked against BANC, VXZ lands near the bottom at #14. The last year tells two different stories: BANC led by 30.8 percentage points, +14.7% for BANC 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.
BANC vs VXZ: side by side
| BANC (Banc of California, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +14.7% | -16.1% |
| 5-year return | +18.5% | -53.1% |
| Volatility (ann.) | 33.4% | 25.6% |
| Beta vs S&P 500 | 1.08 | -1.31 |
| Max drawdown (3Y) | -31.2% | -36.4% |
| Market cap | $3.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.34% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BANC | VXZ |
|---|---|---|
| 2022 | -17.7% | +0.5% |
| 2023 | -13.0% | -44.0% |
| 2024 | +18.3% | -12.7% |
| 2025 | +28.0% | +5.7% |
| 2026 | -1.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BANC and VXZ good diversifiers for each other?
Yes: at -0.53, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BANC and VXZ?
As of 2026-08-27, the correlation of weekly returns between BANC and VXZ is -0.53 over 3 years, -0.38 over 1 year and -0.54 over 5 years.
Is VXZ a good diversifier for BANC?
Yes: at -0.53, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.53 mean?
On the −1 to +1 scale, -0.53 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/banc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/banc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BANC correlations · VXZ correlations
