BR vs VXZ: Correlation
Broadridge Financial Solutions (BR) 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 -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BR and VXZ?
On 3 years of weekly data the BR/VXZ correlation comes out at -0.32, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.20) than the 3-year average (-0.32). The 5-year figure is -0.41, and annualized covariance runs at -186.9 %².
VXZ is close to the least connected end of BR's tracked universe, ranking #44 of 45. On 12-month performance VXZ holds a 11.5-point edge, -27.6% against -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.
BR vs VXZ: side by side
| BR (Broadridge Financial Solutions) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -27.6% | -16.1% |
| 5-year return | +16.0% | -53.1% |
| Volatility (ann.) | 22.6% | 25.6% |
| Beta vs S&P 500 | 0.65 | -1.31 |
| Max drawdown (3Y) | -48.2% | -36.4% |
| Market cap | $20.9B | – |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 2.15% | – |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | BR | VXZ |
|---|---|---|
| 2022 | -25.3% | +0.5% |
| 2023 | +56.2% | -44.0% |
| 2024 | +11.7% | -12.7% |
| 2025 | +0.3% | +5.7% |
| 2026 | -17.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BR and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
FAQ
What is the correlation between BR and VXZ?
The BR/VXZ correlation stands at -0.32 on a 3-year window (1 year: -0.20, 5 years: -0.41), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BR?
By historical standards, yes. A correlation of -0.32 means the two rarely move for the same reasons.
What does a correlation of -0.32 mean?
A reading of -0.32 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/br-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/br-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BR correlations · VXZ correlations
