BCML vs VXZ: Correlation
Measured on weekly returns over the past three years, BayCom Corp (BCML) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.38, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCML and VXZ?
Over the past 3 years, BCML and VXZ moved with a correlation of -0.38, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.16) than the 3-year average (-0.38). Over 5 years the correlation is -0.33, and the annualized covariance of weekly returns is -243.5 %².
Among the 14 assets we track against BCML, VXZ sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months BCML outperformed by 18.2 percentage points (+2.1% for BCML 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.
BCML vs VXZ: side by side
| BCML (BayCom Corp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.1% | -16.1% |
| 5-year return | +92.9% | -53.1% |
| Volatility (ann.) | 24.7% | 25.6% |
| Beta vs S&P 500 | 0.55 | -1.31 |
| Max drawdown (3Y) | -19.7% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 3.81% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCML | VXZ |
|---|---|---|
| 2022 | +2.2% | +0.5% |
| 2023 | +26.9% | -44.0% |
| 2024 | +16.0% | -12.7% |
| 2025 | +13.0% | +5.7% |
| 2026 | +4.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCML and VXZ good diversifiers for each other?
Yes. With a correlation of -0.38, BCML and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BCML and VXZ?
As of 2026-08-27, the correlation of weekly returns between BCML and VXZ is -0.38 over 3 years, -0.16 over 1 year and -0.33 over 5 years.
Is VXZ a good diversifier for BCML?
Yes. With a correlation of -0.38, BCML and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.38 mean?
A reading of -0.38 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/bcml-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcml-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCML correlations · VXZ correlations
