BDC vs VXX: Correlation
Belden Inc (BDC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDC and VXX?
Across a 3-year window, the weekly returns of BDC and VXX correlate at -0.38, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.34 lands near the 3-year figure. Stretching to 5 years gives -0.41, with an annualized covariance of -914.5 %².
VXX is close to the least connected end of BDC's tracked universe, ranking #13 of 13. Their recent paths diverged sharply: over the last 12 months BDC outperformed by 40.1 percentage points (-9.6% for BDC against -49.7% for VXX). One caveat on sizing: VXX is 1.6 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.
BDC vs VXX: side by side
| BDC (Belden Inc) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.6% | -49.7% |
| 5-year return | +113.6% | -95.6% |
| Volatility (ann.) | 39.2% | 60.9% |
| Beta vs S&P 500 | 1.17 | -3.31 |
| Max drawdown (3Y) | -35.8% | -83.3% |
| Market cap | $4.7B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 0.17% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDC | VXX |
|---|---|---|
| 2022 | +9.7% | -23.8% |
| 2023 | +7.7% | -72.5% |
| 2024 | +46.1% | -26.2% |
| 2025 | +3.7% | -42.2% |
| 2026 | +3.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDC and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
FAQ
What is the correlation between BDC and VXX?
The BDC/VXX correlation stands at -0.38 on a 3-year window (1 year: -0.34, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BDC?
By historical standards, yes. A correlation of -0.38 means the two rarely move for the same reasons.
What does a correlation of -0.38 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/bdc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BDC correlations · VXX correlations
