BJ vs IVZ: Correlation
How closely do BJ's Wholesale Club Holdings, Inc. (BJ) and Invesco (IVZ) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJ and IVZ?
On 3 years of weekly data the BJ/IVZ correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.07) sits close to the 3-year figure. The 5-year figure is 0.03, and annualized covariance runs at -129.7 %².
By 3-year correlation, IVZ places #9 of the 43 assets tracked against BJ. Correlation aside, the last 12 months split them widely, with IVZ ahead by 62.8 points (-6.9% versus +55.9%).
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.
BJ vs IVZ: side by side
| BJ (BJ's Wholesale Club Holdings, Inc.) | IVZ (Invesco) | |
|---|---|---|
| 1-year return | -6.9% | +55.9% |
| 5-year return | +59.5% | +63.7% |
| Volatility (ann.) | 26.4% | 32.6% |
| Beta vs S&P 500 | -0.14 | 1.29 |
| Max drawdown (3Y) | -30.1% | -36.5% |
| Market cap | $11.4B | $14.7B |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.00% | 2.58% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | BJ | IVZ |
|---|---|---|
| 2022 | -1.2% | -18.7% |
| 2023 | +0.8% | +4.2% |
| 2024 | +34.0% | +3.0% |
| 2025 | +0.8% | +56.9% |
| 2026 | +0.5% | +29.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJ and IVZ good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BJ and IVZ?
The BJ/IVZ correlation stands at -0.15 on a 3-year window (1 year: -0.07, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is IVZ a good diversifier for BJ?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bj-vs-ivz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bj-vs-ivz/)
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Related comparisons
Hubs: BJ correlations · IVZ correlations
