BIVI vs VXZ: Correlation
How closely do BioVie Inc. (BIVI) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIVI and VXZ?
Across a 3-year window, the weekly returns of BIVI and VXZ correlate at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Stretching to 5 years gives -0.15, with an annualized covariance of -933.5 %².
Out of 12 assets tracked against BIVI, VXZ lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with BIVI ahead by 51.3 points (+35.2% versus -16.1%). Note the risk asymmetry: BIVI runs 5.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BIVI vs VXZ: side by side
| BIVI (BioVie Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +35.2% | -16.1% |
| 5-year return | -99.7% | -53.1% |
| Volatility (ann.) | 139.8% | 25.6% |
| Beta vs S&P 500 | 1.45 | -1.31 |
| Max drawdown (3Y) | -99.8% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIVI | VXZ |
|---|---|---|
| 2022 | +72.7% | +0.5% |
| 2023 | -83.8% | -44.0% |
| 2024 | -84.1% | -12.7% |
| 2025 | -94.2% | +5.7% |
| 2026 | +88.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIVI and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between BIVI and VXZ?
The BIVI/VXZ correlation stands at -0.26 on a 3-year window (1 year: -0.23, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BIVI?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
A reading of -0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bivi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bivi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BIVI correlations · VXZ correlations
