BCAB vs VXZ: Correlation
How closely do BioAtla, Inc. (BCAB) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCAB and VXZ?
Over the past 3 years, BCAB and VXZ moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.02 versus -0.26 over 3 years. Over 5 years the correlation is -0.23, and the annualized covariance of weekly returns is -782.2 %².
Out of 11 assets tracked against BCAB, VXZ lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with VXZ ahead by 69.9 points (-86.0% versus -16.1%). One caveat on sizing: BCAB is 4.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BCAB vs VXZ: side by side
| BCAB (BioAtla, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -86.0% | -16.1% |
| 5-year return | -99.8% | -53.1% |
| Volatility (ann.) | 119.3% | 25.6% |
| Beta vs S&P 500 | 2.75 | -1.31 |
| Max drawdown (3Y) | -98.4% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCAB | VXZ |
|---|---|---|
| 2022 | -58.0% | +0.5% |
| 2023 | -70.2% | -44.0% |
| 2024 | -76.0% | -12.7% |
| 2025 | -3.9% | +5.7% |
| 2026 | -88.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCAB and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BCAB and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.02 over the last year and -0.23 over 5 years.
Is VXZ a good diversifier for BCAB?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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/bcab-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcab-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCAB correlations · VXZ correlations
