BME vs VXX: Correlation
How closely do Blackrock Health Sciences Trust (BME) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.47, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BME and VXX?
Over the past 3 years, BME and VXX moved with a correlation of -0.47, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.35) than the 3-year average (-0.47). Over 5 years the correlation is -0.47, and the annualized covariance of weekly returns is -409.6 %².
Among the 34 assets we track against BME, VXX sits near the bottom by co-movement, at rank #33. Correlation aside, the last 12 months split them widely, with BME ahead by 85.7 points (+36.0% versus -49.7%). Note the risk asymmetry: VXX runs 4.2 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.
BME vs VXX: side by side
| BME (Blackrock Health Sciences Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +36.0% | -49.7% |
| 5-year return | +33.5% | -95.6% |
| Volatility (ann.) | 14.4% | 60.9% |
| Beta vs S&P 500 | 0.45 | -3.31 |
| Max drawdown (3Y) | -14.4% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 7.8 | – |
| Dividend yield | 6.80% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BME | VXX |
|---|---|---|
| 2022 | -4.6% | -23.8% |
| 2023 | -1.1% | -72.5% |
| 2024 | -0.1% | -26.2% |
| 2025 | +17.9% | -42.2% |
| 2026 | +17.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BME and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
FAQ
What is the correlation between BME and VXX?
As of 2026-08-27, the correlation of weekly returns between BME and VXX is -0.47 over 3 years, -0.35 over 1 year and -0.47 over 5 years.
Is VXX a good diversifier for BME?
By historical standards, yes. A correlation of -0.47 means the two rarely move for the same reasons.
What does a correlation of -0.47 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/bme-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bme-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BME correlations · VXX correlations
