BELFB vs VXZ: Correlation
Bel Fuse Inc. (BELFB) 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 -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BELFB and VXZ?
On 3 years of weekly data the BELFB/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.39 lands near the 3-year figure. The 5-year figure is -0.35, and annualized covariance runs at -423.6 %².
Out of 14 assets tracked against BELFB, VXZ lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with BELFB ahead by 99.8 points (+83.7% versus -16.1%). Risk is not evenly split, since BELFB carries 1.9 times the volatility of the other side.
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.
BELFB vs VXZ: side by side
| BELFB (Bel Fuse Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +83.7% | -16.1% |
| 5-year return | +1827.0% | -53.1% |
| Volatility (ann.) | 49.1% | 25.6% |
| Beta vs S&P 500 | 1.30 | -1.31 |
| Max drawdown (3Y) | -33.4% | -36.4% |
| Market cap | $3.7B | – |
| P/E (trailing) | 65.2 | – |
| Dividend yield | 0.09% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BELFB | VXZ |
|---|---|---|
| 2022 | +158.7% | +0.5% |
| 2023 | +104.2% | -44.0% |
| 2024 | +24.0% | -12.7% |
| 2025 | +106.3% | +5.7% |
| 2026 | +52.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BELFB and VXZ good diversifiers for each other?
Yes. With a correlation of -0.34, BELFB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BELFB and VXZ?
The BELFB/VXZ correlation stands at -0.34 on a 3-year window (1 year: -0.39, 5 years: -0.35), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BELFB?
Yes. With a correlation of -0.34, BELFB and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 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/belfb-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/belfb-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BELFB correlations · VXZ correlations
