BOKF vs VXZ: Correlation
How closely do BOK Financial Corporation (BOKF) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.57, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOKF and VXZ?
Across a 3-year window, the weekly returns of BOKF and VXZ correlate at -0.57, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.36) runs above the 3-year figure (-0.57). Stretching to 5 years gives -0.51, with an annualized covariance of -375.4 %².
VXZ is close to the least connected end of BOKF's tracked universe, ranking #15 of 15. Correlation aside, the last 12 months split them widely, with BOKF ahead by 41.6 points (+25.5% versus -16.1%).
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.
BOKF vs VXZ: side by side
| BOKF (BOK Financial Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.5% | -16.1% |
| 5-year return | +78.9% | -53.1% |
| Volatility (ann.) | 25.9% | 25.6% |
| Beta vs S&P 500 | 0.86 | -1.31 |
| Max drawdown (3Y) | -26.2% | -36.4% |
| Market cap | $8.4B | – |
| P/E (trailing) | 13.0 | – |
| Dividend yield | 1.82% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOKF | VXZ |
|---|---|---|
| 2022 | +1.2% | +0.5% |
| 2023 | -15.2% | -44.0% |
| 2024 | +27.2% | -12.7% |
| 2025 | +13.8% | +5.7% |
| 2026 | +18.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOKF and VXZ good diversifiers for each other?
Yes. With a correlation of -0.57, BOKF and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BOKF and VXZ?
Using weekly returns as of 2026-08-27: -0.57 over 3 years, with -0.36 over the last year and -0.51 over 5 years.
Is VXZ a good diversifier for BOKF?
Yes. With a correlation of -0.57, BOKF and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.57 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/bokf-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bokf-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BOKF correlations · VXZ correlations
