BOC vs VXZ: Correlation
Boston Omaha Corporation (BOC) 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 -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOC and VXZ?
On 3 years of weekly data the BOC/VXZ correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.11) runs above the 3-year figure (-0.23). The 5-year figure is -0.31, and annualized covariance runs at -174.4 %².
Among the 12 assets we track against BOC, VXZ sits near the bottom by co-movement, at rank #12. The last year tells two different stories: BOC led by 17.6 percentage points, +1.5% for BOC 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.
BOC vs VXZ: side by side
| BOC (Boston Omaha Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.5% | -16.1% |
| 5-year return | -60.8% | -53.1% |
| Volatility (ann.) | 29.8% | 25.6% |
| Beta vs S&P 500 | 0.31 | -1.31 |
| Max drawdown (3Y) | -37.4% | -36.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOC | VXZ |
|---|---|---|
| 2022 | -7.8% | +0.5% |
| 2023 | -40.6% | -44.0% |
| 2024 | -9.9% | -12.7% |
| 2025 | -12.8% | +5.7% |
| 2026 | +11.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOC and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between BOC and VXZ?
As of 2026-08-27, the correlation of weekly returns between BOC and VXZ is -0.23 over 3 years, -0.11 over 1 year and -0.31 over 5 years.
Is VXZ a good diversifier for BOC?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/boc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOC correlations · VXZ correlations
