BCO vs VXZ: Correlation
How closely do Brinks Company (The) (BCO) 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 -0.34, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCO and VXZ?
On 3 years of weekly data the BCO/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. The 5-year figure is -0.39, and annualized covariance runs at -267.3 %².
VXZ is close to the least connected end of BCO's tracked universe, ranking #12 of 12. Over the last 12 months BCO came out ahead by 14.3 percentage points (-1.8% against -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.
BCO vs VXZ: side by side
| BCO (Brinks Company (The)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -1.8% | -16.1% |
| 5-year return | +48.9% | -53.1% |
| Volatility (ann.) | 30.5% | 25.6% |
| Beta vs S&P 500 | 0.85 | -1.31 |
| Max drawdown (3Y) | -31.9% | -36.4% |
| Market cap | $4.5B | – |
| P/E (trailing) | 25.8 | – |
| Dividend yield | 0.91% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCO | VXZ |
|---|---|---|
| 2022 | -17.0% | +0.5% |
| 2023 | +65.9% | -44.0% |
| 2024 | +6.5% | -12.7% |
| 2025 | +27.2% | +5.7% |
| 2026 | -5.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between BCO and VXZ?
The BCO/VXZ correlation stands at -0.34 on a 3-year window (1 year: -0.25, 5 years: -0.39), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BCO?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bco-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bco-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCO correlations · VXZ correlations
