BLBD vs VXZ: Correlation
Blue Bird Corporation (BLBD) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLBD and VXZ?
On 3 years of weekly data the BLBD/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.27). The 5-year figure is -0.25, and annualized covariance runs at -349.8 %².
VXZ is close to the least connected end of BLBD's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months BLBD outperformed by 19.1 percentage points (+3.0% for BLBD against -16.1% for VXZ). Risk is not evenly split, since BLBD carries 1.9 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.
BLBD vs VXZ: side by side
| BLBD (Blue Bird Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.0% | -16.1% |
| 5-year return | +182.6% | -53.1% |
| Volatility (ann.) | 49.8% | 25.6% |
| Beta vs S&P 500 | 0.95 | -1.31 |
| Max drawdown (3Y) | -45.9% | -36.4% |
| Market cap | $1.9B | – |
| P/E (trailing) | 7.2 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLBD | VXZ |
|---|---|---|
| 2022 | -31.5% | +0.5% |
| 2023 | +151.7% | -44.0% |
| 2024 | +43.3% | -12.7% |
| 2025 | +21.7% | +5.7% |
| 2026 | +27.5% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLBD and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between BLBD and VXZ?
The BLBD/VXZ correlation stands at -0.27 on a 3-year window (1 year: -0.10, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BLBD?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/blbd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blbd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BLBD correlations · VXZ correlations
