BLND vs VXZ: Correlation
Blend Labs, Inc. (BLND) 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 -0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BLND and VXZ?
Across a 3-year window, the weekly returns of BLND and VXZ correlate at -0.37, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. Stretching to 5 years gives -0.30, with an annualized covariance of -723.5 %².
Out of 12 assets tracked against BLND, VXZ lands near the bottom at #12. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 41.1 percentage points (-57.2% for BLND against -16.1% for VXZ). Note the risk asymmetry: BLND runs 2.9 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.
BLND vs VXZ: side by side
| BLND (Blend Labs, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -57.2% | -16.1% |
| 5-year return | -90.5% | -53.1% |
| Volatility (ann.) | 75.5% | 25.6% |
| Beta vs S&P 500 | 1.32 | -1.31 |
| Max drawdown (3Y) | -74.2% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BLND | VXZ |
|---|---|---|
| 2022 | -80.4% | +0.5% |
| 2023 | +77.1% | -44.0% |
| 2024 | +65.1% | -12.7% |
| 2025 | -27.8% | +5.7% |
| 2026 | -49.3% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BLND and VXZ good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BLND and VXZ?
As of 2026-08-27, the correlation of weekly returns between BLND and VXZ is -0.37 over 3 years, -0.30 over 1 year and -0.30 over 5 years.
Is VXZ a good diversifier for BLND?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 mean?
A reading of -0.37 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/blnd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/blnd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BLND correlations · VXZ correlations
