BCS vs VXZ: Correlation
Measured on weekly returns over the past three years, Barclays PLC (BCS) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.60, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCS and VXZ?
On 3 years of weekly data the BCS/VXZ correlation comes out at -0.60, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.73) than the 3-year average (-0.60). The 5-year figure is -0.56, and annualized covariance runs at -474.4 %².
VXZ is close to the least connected end of BCS's tracked universe, ranking #14 of 15. Their recent paths diverged sharply: over the last 12 months BCS outperformed by 52.7 percentage points (+36.6% for BCS 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.
BCS vs VXZ: side by side
| BCS (Barclays PLC) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +36.6% | -16.1% |
| 5-year return | +214.7% | -53.1% |
| Volatility (ann.) | 30.9% | 25.6% |
| Beta vs S&P 500 | 1.27 | -1.31 |
| Max drawdown (3Y) | -26.2% | -36.4% |
| Market cap | $90.3B | – |
| P/E (trailing) | 10.3 | – |
| Dividend yield | 0.42% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCS | VXZ |
|---|---|---|
| 2022 | -21.9% | +0.5% |
| 2023 | +6.0% | -44.0% |
| 2024 | +76.3% | -12.7% |
| 2025 | +96.5% | +5.7% |
| 2026 | +8.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCS and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
FAQ
What is the correlation between BCS and VXZ?
The BCS/VXZ correlation stands at -0.60 on a 3-year window (1 year: -0.73, 5 years: -0.56), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BCS?
By historical standards, yes. A correlation of -0.60 means the two rarely move for the same reasons.
What does a correlation of -0.60 mean?
A reading of -0.60 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/bcs-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcs-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BCS correlations · VXZ correlations
