BKSY vs VXZ: Correlation
Measured on weekly returns over the past three years, BlackSky Technology Inc. (BKSY) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKSY and VXZ?
Across a 3-year window, the weekly returns of BKSY and VXZ correlate at -0.27, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.27 over 3. Stretching to 5 years gives -0.32, with an annualized covariance of -633.5 %².
Out of 14 assets tracked against BKSY, VXZ lands near the bottom at #12. The last year tells two different stories: BKSY led by 52.4 percentage points, +36.3% for BKSY against -16.1% for VXZ. One caveat on sizing: BKSY is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BKSY vs VXZ: side by side
| BKSY (BlackSky Technology Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +36.3% | -16.1% |
| 5-year return | -69.1% | -53.1% |
| Volatility (ann.) | 90.5% | 25.6% |
| Beta vs S&P 500 | 2.48 | -1.31 |
| Max drawdown (3Y) | -69.1% | -36.4% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKSY | VXZ |
|---|---|---|
| 2022 | -65.7% | +0.5% |
| 2023 | -9.1% | -44.0% |
| 2024 | -3.7% | -12.7% |
| 2025 | +73.8% | +5.7% |
| 2026 | +32.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKSY and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, BKSY and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BKSY and VXZ?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.23 over the last year and -0.32 over 5 years.
Is VXZ a good diversifier for BKSY?
Yes. With a correlation of -0.27, BKSY and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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/bksy-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bksy-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BKSY correlations · VXZ correlations
