BCC vs VXZ: Correlation
Boise Cascade, L.L.C. (BCC) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCC and VXZ?
Over the past 3 years, BCC and VXZ moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.40 over 3. Over 5 years the correlation is -0.38, and the annualized covariance of weekly returns is -376.7 %².
Out of 24 assets tracked against BCC, VXZ lands near the bottom at #24. The trailing year gives BCC the advantage: -9.5% versus -16.1%, a 6.6-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.
BCC vs VXZ: side by side
| BCC (Boise Cascade, L.L.C.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.5% | -16.1% |
| 5-year return | +71.4% | -53.1% |
| Volatility (ann.) | 36.4% | 25.6% |
| Beta vs S&P 500 | 0.99 | -1.31 |
| Max drawdown (3Y) | -56.5% | -36.4% |
| Market cap | $2.7B | – |
| P/E (trailing) | 27.1 | – |
| Dividend yield | 1.10% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCC | VXZ |
|---|---|---|
| 2022 | +1.5% | +0.5% |
| 2023 | +106.6% | -44.0% |
| 2024 | -4.0% | -12.7% |
| 2025 | -37.5% | +5.7% |
| 2026 | +7.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCC and VXZ good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BCC and VXZ?
Using weekly returns as of 2026-08-27: -0.40 over 3 years, with -0.33 over the last year and -0.38 over 5 years.
Is VXZ a good diversifier for BCC?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 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/bcc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCC correlations · VXZ correlations
