BDX vs VXZ: Correlation
Becton Dickinson (BDX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDX and VXZ?
Across a 3-year window, the weekly returns of BDX and VXZ correlate at -0.17, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Stretching to 5 years gives -0.22, with an annualized covariance of -105.5 %².
By 3-year correlation, VXZ places #23 of the 28 assets tracked against BDX. Correlation aside, the last 12 months split them widely, with BDX ahead by 41.6 points (+25.5% versus -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.
BDX vs VXZ: side by side
| BDX (Becton Dickinson) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.5% | -16.1% |
| 5-year return | +6.8% | -53.1% |
| Volatility (ann.) | 24.0% | 25.6% |
| Beta vs S&P 500 | 0.33 | -1.31 |
| Max drawdown (3Y) | -39.6% | -36.4% |
| Market cap | $51.2B | – |
| P/E (trailing) | 32.9 | – |
| Dividend yield | 2.20% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BDX | VXZ |
|---|---|---|
| 2022 | +5.1% | +0.5% |
| 2023 | -2.7% | -44.0% |
| 2024 | -5.4% | -12.7% |
| 2025 | -12.6% | +5.7% |
| 2026 | +25.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDX and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between BDX and VXZ?
As of 2026-08-27, the correlation of weekly returns between BDX and VXZ is -0.17 over 3 years, -0.20 over 1 year and -0.22 over 5 years.
Is VXZ a good diversifier for BDX?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 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/bdx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BDX correlations · VXZ correlations
