BKT vs VXZ: Correlation
How closely do BlackRock Income Trust Inc. (The) (BKT) 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 -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKT and VXZ?
On 3 years of weekly data the BKT/VXZ correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.31 over 3 years. The 5-year figure is -0.30, and annualized covariance runs at -76.8 %².
VXZ is close to the least connected end of BKT's tracked universe, ranking #16 of 16. The trailing year gives BKT the advantage: -3.3% versus -16.1%, a 12.8-point spread. Risk is not evenly split, since VXZ carries 2.6 times the volatility of the other side.
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.
BKT vs VXZ: side by side
| BKT (BlackRock Income Trust Inc. (The)) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -3.3% | -16.1% |
| 5-year return | -16.5% | -53.1% |
| Volatility (ann.) | 9.7% | 25.6% |
| Beta vs S&P 500 | 0.19 | -1.31 |
| Max drawdown (3Y) | -10.4% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.0 | – |
| Dividend yield | 10.17% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKT | VXZ |
|---|---|---|
| 2022 | -21.6% | +0.5% |
| 2023 | +7.6% | -44.0% |
| 2024 | +3.2% | -12.7% |
| 2025 | +5.0% | +5.7% |
| 2026 | +0.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKT and VXZ good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BKT and VXZ?
As of 2026-08-27, the correlation of weekly returns between BKT and VXZ is -0.31 over 3 years, -0.44 over 1 year and -0.30 over 5 years.
Is VXZ a good diversifier for BKT?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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/bkt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BKT correlations · VXZ correlations
