BOE vs VXZ: Correlation
Measured on weekly returns over the past three years, Blackrock Enhanced Global Dividend Trust (BOE) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.64, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and VXZ?
Across a 3-year window, the weekly returns of BOE and VXZ correlate at -0.64, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.75) than the 3-year average (-0.64). Stretching to 5 years gives -0.64, with an annualized covariance of -225.9 %².
Out of 27 assets tracked against BOE, VXZ lands near the bottom at #26. Their recent paths diverged sharply: over the last 12 months BOE outperformed by 33.8 percentage points (+17.7% for BOE against -16.1% for VXZ). Note the risk asymmetry: VXZ runs 1.9 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.
BOE vs VXZ: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.7% | -16.1% |
| 5-year return | +46.4% | -53.1% |
| Volatility (ann.) | 13.8% | 25.6% |
| Beta vs S&P 500 | 0.79 | -1.31 |
| Max drawdown (3Y) | -14.5% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | 6.8 | – |
| Dividend yield | 7.95% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | VXZ |
|---|---|---|
| 2022 | -15.5% | +0.5% |
| 2023 | +12.0% | -44.0% |
| 2024 | +16.8% | -12.7% |
| 2025 | +18.8% | +5.7% |
| 2026 | +12.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.64 means the two rarely move for the same reasons.
FAQ
What is the correlation between BOE and VXZ?
As of 2026-08-27, the correlation of weekly returns between BOE and VXZ is -0.64 over 3 years, -0.75 over 1 year and -0.64 over 5 years.
Is VXZ a good diversifier for BOE?
By historical standards, yes. A correlation of -0.64 means the two rarely move for the same reasons.
What does a correlation of -0.64 mean?
A reading of -0.64 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/boe-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boe-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOE correlations · VXZ correlations
