BLCO vs VXZ: Correlation
How closely do Bausch + Lomb Corporation (BLCO) 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 -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLCO and VXZ?
On 3 years of weekly data the BLCO/VXZ correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.60) runs below the 3-year figure (-0.28). The 5-year figure is -0.28, and annualized covariance runs at -288.2 %².
Out of 11 assets tracked against BLCO, VXZ lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with BLCO ahead by 33.8 points (+17.7% versus -16.1%). Note the risk asymmetry: BLCO runs 1.5 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.
BLCO vs VXZ: side by side
| BLCO (Bausch + Lomb Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.7% | -16.1% |
| 5-year return | -14.4% | -53.1% |
| Volatility (ann.) | 39.6% | 25.6% |
| Beta vs S&P 500 | 0.82 | -1.31 |
| Max drawdown (3Y) | -47.9% | -36.4% |
| Market cap | $6.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLCO | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | +10.0% | -44.0% |
| 2024 | +5.9% | -12.7% |
| 2025 | -5.4% | +5.7% |
| 2026 | +0.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLCO and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between BLCO and VXZ?
The BLCO/VXZ correlation stands at -0.28 on a 3-year window (1 year: -0.60, 5 years: -0.28), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BLCO?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 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/blco-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blco-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BLCO correlations · VXZ correlations
