BMEZ vs VXX: Correlation
Measured on weekly returns over the past three years, BlackRock Health Sciences Term Trust (BMEZ) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.44, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMEZ and VXX?
Across a 3-year window, the weekly returns of BMEZ and VXX correlate at -0.44, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.45) sits close to the 3-year figure. Stretching to 5 years gives -0.45, with an annualized covariance of -444.3 %².
Among the 23 assets we track against BMEZ, VXX sits near the bottom by co-movement, at rank #23. Their recent paths diverged sharply: over the last 12 months BMEZ outperformed by 81.1 percentage points (+31.4% for BMEZ against -49.7% for VXX). Note the risk asymmetry: VXX runs 3.7 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.
BMEZ vs VXX: side by side
| BMEZ (BlackRock Health Sciences Term Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +31.4% | -49.7% |
| 5-year return | +0.9% | -95.6% |
| Volatility (ann.) | 16.5% | 60.9% |
| Beta vs S&P 500 | 0.63 | -3.31 |
| Max drawdown (3Y) | -18.3% | -83.3% |
| Market cap | $1.1B | – |
| P/E (trailing) | 6.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMEZ | VXX |
|---|---|---|
| 2022 | -32.7% | -23.8% |
| 2023 | +5.1% | -72.5% |
| 2024 | +9.5% | -26.2% |
| 2025 | +18.7% | -42.2% |
| 2026 | +20.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMEZ and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
FAQ
What is the correlation between BMEZ and VXX?
As of 2026-08-27, the correlation of weekly returns between BMEZ and VXX is -0.44 over 3 years, -0.45 over 1 year and -0.45 over 5 years.
Is VXX a good diversifier for BMEZ?
By historical standards, yes. A correlation of -0.44 means the two rarely move for the same reasons.
What does a correlation of -0.44 mean?
A reading of -0.44 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/bmez-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmez-vs-vxx/)
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Related comparisons
Hubs: BMEZ correlations · VXX correlations
