BMRN vs VXX: Correlation
Measured on weekly returns over the past three years, BioMarin Pharmaceutical Inc. (BMRN) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMRN and VXX?
Over the past 3 years, BMRN and VXX moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.29 over 3. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -498.4 %².
Out of 12 assets tracked against BMRN, VXX lands near the bottom at #11. The last year tells two different stories: BMRN led by 61.0 percentage points, +11.3% for BMRN against -49.7% for VXX. Note the risk asymmetry: VXX runs 2.2 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.
BMRN vs VXX: side by side
| BMRN (BioMarin Pharmaceutical Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +11.3% | -49.7% |
| 5-year return | -21.6% | -95.6% |
| Volatility (ann.) | 28.1% | 60.9% |
| Beta vs S&P 500 | 0.46 | -3.31 |
| Max drawdown (3Y) | -49.8% | -83.3% |
| Market cap | $12.6B | – |
| P/E (trailing) | 176.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMRN | VXX |
|---|---|---|
| 2022 | +17.1% | -23.8% |
| 2023 | -6.8% | -72.5% |
| 2024 | -31.8% | -26.2% |
| 2025 | -9.6% | -42.2% |
| 2026 | +9.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMRN and VXX good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BMRN and VXX?
The BMRN/VXX correlation stands at -0.29 on a 3-year window (1 year: -0.23, 5 years: -0.31), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BMRN?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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/bmrn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmrn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BMRN correlations · VXX correlations
