BKNG vs VXZ: Correlation
Measured on weekly returns over the past three years, Booking Holdings (BKNG) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.47, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKNG and VXZ?
Across a 3-year window, the weekly returns of BKNG and VXZ correlate at -0.47, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.37) sits close to the 3-year figure. Stretching to 5 years gives -0.52, with an annualized covariance of -351.5 %².
Among the 39 assets we track against BKNG, VXZ sits near the bottom by co-movement, at rank #38. The trailing year gives BKNG the advantage: -9.1% versus -16.1%, a 7.0-point spread.
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.
BKNG vs VXZ: side by side
| BKNG (Booking Holdings) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -9.1% | -16.1% |
| 5-year return | +127.1% | -53.1% |
| Volatility (ann.) | 29.1% | 25.6% |
| Beta vs S&P 500 | 1.11 | -1.31 |
| Max drawdown (3Y) | -33.4% | -36.4% |
| Market cap | $152.2B | – |
| P/E (trailing) | 23.2 | – |
| Dividend yield | 0.77% | – |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | BKNG | VXZ |
|---|---|---|
| 2022 | -16.0% | +0.5% |
| 2023 | +76.0% | -44.0% |
| 2024 | +41.3% | -12.7% |
| 2025 | +8.6% | +5.7% |
| 2026 | -5.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKNG and VXZ good diversifiers for each other?
Yes. With a correlation of -0.47, BKNG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BKNG and VXZ?
The BKNG/VXZ correlation stands at -0.47 on a 3-year window (1 year: -0.37, 5 years: -0.52), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BKNG?
Yes. With a correlation of -0.47, BKNG and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.47 mean?
On the −1 to +1 scale, -0.47 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/bkng-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkng-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BKNG correlations · VXZ correlations
