BEPC vs VXZ: Correlation
How closely do Brookfield Renewable Corporation Brookfield Renewable (BEPC) 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 -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEPC and VXZ?
On 3 years of weekly data the BEPC/VXZ correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.07) than the 3-year average (-0.32). The 5-year figure is -0.30, and annualized covariance runs at -281.6 %².
Among the 11 assets we track against BEPC, VXZ sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months BEPC outperformed by 16.5 percentage points (+0.4% for BEPC 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.
BEPC vs VXZ: side by side
| BEPC (Brookfield Renewable Corporation Brookfield Renewable) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +0.4% | -16.1% |
| 5-year return | -8.5% | -53.1% |
| Volatility (ann.) | 34.5% | 25.6% |
| Beta vs S&P 500 | 0.80 | -1.31 |
| Max drawdown (3Y) | -28.6% | -36.4% |
| Market cap | $6.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.33% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BEPC | VXZ |
|---|---|---|
| 2022 | -22.5% | +0.5% |
| 2023 | +9.5% | -44.0% |
| 2024 | +1.0% | -12.7% |
| 2025 | +45.2% | +5.7% |
| 2026 | -12.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEPC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, BEPC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BEPC and VXZ?
The BEPC/VXZ correlation stands at -0.32 on a 3-year window (1 year: -0.07, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BEPC?
Yes. With a correlation of -0.32, BEPC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 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/bepc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bepc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BEPC correlations · VXZ correlations
