BLK vs VXZ: Correlation
BlackRock (BLK) 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 -0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLK and VXZ?
On 3 years of weekly data the BLK/VXZ correlation comes out at -0.56, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.44) than the 3-year average (-0.56). The 5-year figure is -0.56, and annualized covariance runs at -355.2 %².
Among the 42 assets we track against BLK, VXZ sits near the bottom by co-movement, at rank #41. Their recent paths diverged sharply: over the last 12 months BLK outperformed by 21.4 percentage points (+5.3% for BLK against -16.1% for VXZ).
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.
BLK vs VXZ: side by side
| BLK (BlackRock) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +5.3% | -16.1% |
| 5-year return | +38.9% | -53.1% |
| Volatility (ann.) | 24.7% | 25.6% |
| Beta vs S&P 500 | 1.19 | -1.31 |
| Max drawdown (3Y) | -23.7% | -36.4% |
| Market cap | $189.7B | – |
| P/E (trailing) | 28.1 | – |
| Dividend yield | 1.86% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BLK | VXZ |
|---|---|---|
| 2022 | -20.4% | +0.5% |
| 2023 | +17.9% | -44.0% |
| 2024 | +29.3% | -12.7% |
| 2025 | +6.6% | +5.7% |
| 2026 | +10.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLK and VXZ good diversifiers for each other?
Yes. With a correlation of -0.56, BLK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BLK and VXZ?
The BLK/VXZ correlation stands at -0.56 on a 3-year window (1 year: -0.44, 5 years: -0.56), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BLK?
Yes. With a correlation of -0.56, BLK and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.56 mean?
On the −1 to +1 scale, -0.56 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/blk-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blk-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BLK correlations · VXZ correlations
