BCH vs VXZ: Correlation
How closely do Banco De Chile (BCH) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCH and VXZ?
Over the past 3 years, BCH and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.36) sits close to the 3-year figure. Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -196.0 %².
Among the 15 assets we track against BCH, VXZ sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with BCH ahead by 71.5 points (+55.4% versus -16.1%).
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.
BCH vs VXZ: side by side
| BCH (Banco De Chile) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +55.4% | -16.1% |
| 5-year return | +219.8% | -53.1% |
| Volatility (ann.) | 24.6% | 25.6% |
| Beta vs S&P 500 | 0.63 | -1.31 |
| Max drawdown (3Y) | -20.0% | -36.4% |
| Market cap | $21.0B | – |
| P/E (trailing) | 15.8 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCH | VXZ |
|---|---|---|
| 2022 | +41.2% | +0.5% |
| 2023 | +23.4% | -44.0% |
| 2024 | +6.1% | -12.7% |
| 2025 | +81.2% | +5.7% |
| 2026 | +16.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between BCH and VXZ?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.36 over the last year and -0.22 over 5 years.
Is VXZ a good diversifier for BCH?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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/bch-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bch-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCH correlations · VXZ correlations
