BHC vs VXX: Correlation
Bausch Health Companies Inc. (BHC) 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 -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BHC and VXX?
On 3 years of weekly data the BHC/VXX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.23 over 3. The 5-year figure is -0.22, and annualized covariance runs at -962.6 %².
Among the 11 assets we track against BHC, VXX sits near the bottom by co-movement, at rank #11. The last year tells two different stories: BHC led by 36.4 percentage points, -13.3% for BHC against -49.7% for VXX.
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.
BHC vs VXX: side by side
| BHC (Bausch Health Companies Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -13.3% | -49.7% |
| 5-year return | -78.4% | -95.6% |
| Volatility (ann.) | 67.6% | 60.9% |
| Beta vs S&P 500 | 0.94 | -3.31 |
| Max drawdown (3Y) | -59.3% | -83.3% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BHC | VXX |
|---|---|---|
| 2022 | -77.3% | -23.8% |
| 2023 | +27.7% | -72.5% |
| 2024 | +0.5% | -26.2% |
| 2025 | -13.8% | -42.2% |
| 2026 | -9.4% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BHC and VXX good diversifiers for each other?
Yes. With a correlation of -0.23, BHC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BHC and VXX?
As of 2026-08-27, the correlation of weekly returns between BHC and VXX is -0.23 over 3 years, -0.27 over 1 year and -0.22 over 5 years.
Is VXX a good diversifier for BHC?
Yes. With a correlation of -0.23, BHC and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/bhc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bhc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BHC correlations · VXX correlations
