BCPC vs VXZ: Correlation
How closely do Balchem Corporation (BCPC) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCPC and VXZ?
Across a 3-year window, the weekly returns of BCPC and VXZ correlate at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.15) than the 3-year average (-0.28). Stretching to 5 years gives -0.38, with an annualized covariance of -162.8 %².
VXZ is close to the least connected end of BCPC's tracked universe, ranking #13 of 14. Their recent paths diverged sharply: over the last 12 months BCPC outperformed by 25.7 percentage points (+9.6% for BCPC 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.
BCPC vs VXZ: side by side
| BCPC (Balchem Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +9.6% | -16.1% |
| 5-year return | +31.0% | -53.1% |
| Volatility (ann.) | 22.7% | 25.6% |
| Beta vs S&P 500 | 0.57 | -1.31 |
| Max drawdown (3Y) | -23.1% | -36.4% |
| Market cap | $5.7B | – |
| P/E (trailing) | 35.4 | – |
| Dividend yield | 0.53% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCPC | VXZ |
|---|---|---|
| 2022 | -27.1% | +0.5% |
| 2023 | +22.5% | -44.0% |
| 2024 | +10.2% | -12.7% |
| 2025 | -5.3% | +5.7% |
| 2026 | +16.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCPC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.28, BCPC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BCPC and VXZ?
The BCPC/VXZ correlation stands at -0.28 on a 3-year window (1 year: -0.15, 5 years: -0.38), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BCPC?
Yes. With a correlation of -0.28, BCPC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/bcpc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcpc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCPC correlations · VXZ correlations
