BBUC vs VXZ: Correlation
Measured on weekly returns over the past three years, Brookfield Business Corporation Class A Subordinate Voting (BBUC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBUC and VXZ?
On 3 years of weekly data the BBUC/VXZ correlation comes out at -0.45, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.22) runs above the 3-year figure (-0.45). The 5-year figure is -0.44, and annualized covariance runs at -481.0 %².
VXZ is close to the least connected end of BBUC's tracked universe, ranking #12 of 13. Twelve-month performance is nearly a tie, at -19.3% for BBUC and -16.1% for VXZ. Note the risk asymmetry: BBUC runs 1.6 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.
BBUC vs VXZ: side by side
| BBUC (Brookfield Business Corporation Class A Subordinate Voting) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -19.3% | -16.1% |
| 5-year return | -20.8% | -53.1% |
| Volatility (ann.) | 41.8% | 25.6% |
| Beta vs S&P 500 | 1.45 | -1.31 |
| Max drawdown (3Y) | -29.3% | -36.4% |
| Market cap | $5.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.89% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBUC | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | +25.6% | -44.0% |
| 2024 | +5.4% | -12.7% |
| 2025 | +48.8% | +5.7% |
| 2026 | -21.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBUC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between BBUC and VXZ?
The BBUC/VXZ correlation stands at -0.45 on a 3-year window (1 year: -0.22, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BBUC?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
A reading of -0.45 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/bbuc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbuc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBUC correlations · VXZ correlations
