BKYI vs VXZ: Correlation
How closely do BIO-key International, Inc. (BKYI) 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 -0.18, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BKYI and VXZ?
On 3 years of weekly data the BKYI/VXZ correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.05 versus -0.18 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -460.0 %².
Among the 10 assets we track against BKYI, VXZ sits near the bottom by co-movement, at rank #8. The last year tells two different stories: VXZ led by 42.6 percentage points, -58.7% for BKYI against -16.1% for VXZ. Note the risk asymmetry: BKYI runs 3.9 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.
BKYI vs VXZ: side by side
| BKYI (BIO-key International, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -58.7% | -16.1% |
| 5-year return | -99.5% | -53.1% |
| Volatility (ann.) | 99.3% | 25.6% |
| Beta vs S&P 500 | 1.01 | -1.31 |
| Max drawdown (3Y) | -97.1% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BKYI | VXZ |
|---|---|---|
| 2022 | -73.3% | +0.5% |
| 2023 | -71.8% | -44.0% |
| 2024 | -43.0% | -12.7% |
| 2025 | -68.4% | +5.7% |
| 2026 | -42.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BKYI and VXZ good diversifiers for each other?
Yes. With a correlation of -0.18, BKYI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BKYI and VXZ?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with 0.05 over the last year and -0.18 over 5 years.
Is VXZ a good diversifier for BKYI?
Yes. With a correlation of -0.18, BKYI and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 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/bkyi-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bkyi-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BKYI correlations · VXZ correlations
