BCRX vs VXZ: Correlation
How closely do BioCryst Pharmaceuticals, Inc. (BCRX) 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 BCRX and VXZ?
Over the past 3 years, BCRX and VXZ moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.13 versus -0.31 over 3 years. Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -372.3 %².
VXZ is close to the least connected end of BCRX's tracked universe, ranking #10 of 11. Their recent paths diverged sharply: over the last 12 months BCRX outperformed by 31.9 percentage points (+15.8% for BCRX against -16.1% for VXZ). One caveat on sizing: BCRX is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BCRX vs VXZ: side by side
| BCRX (BioCryst Pharmaceuticals, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +15.8% | -16.1% |
| 5-year return | -37.1% | -53.1% |
| Volatility (ann.) | 47.1% | 25.6% |
| Beta vs S&P 500 | 0.75 | -1.31 |
| Max drawdown (3Y) | -46.0% | -36.4% |
| Market cap | $2.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCRX | VXZ |
|---|---|---|
| 2022 | -17.1% | +0.5% |
| 2023 | -47.8% | -44.0% |
| 2024 | +25.5% | -12.7% |
| 2025 | +3.7% | +5.7% |
| 2026 | +26.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCRX 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 BCRX and VXZ?
The BCRX/VXZ correlation stands at -0.31 on a 3-year window (1 year: -0.13, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BCRX?
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?
On the −1 to +1 scale, -0.31 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/bcrx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcrx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCRX correlations · VXZ correlations
