BRK.B vs VXZ: Correlation
How closely do Berkshire Hathaway (BRK.B) 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 -0.43, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRK.B and VXZ?
Across a 3-year window, the weekly returns of BRK.B and VXZ correlate at -0.43, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.25) than the 3-year average (-0.43). Stretching to 5 years gives -0.46, with an annualized covariance of -173.9 %².
Among the 31 assets we track against BRK.B, VXZ sits near the bottom by co-movement, at rank #31. The last year tells two different stories: BRK.B led by 17.7 percentage points, +1.6% for BRK.B against -16.1% for VXZ. Risk is not evenly split, since VXZ carries 1.6 times the volatility of the other side.
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.
BRK.B vs VXZ: side by side
| BRK.B (Berkshire Hathaway) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +1.6% | -16.1% |
| 5-year return | +76.3% | -53.1% |
| Volatility (ann.) | 15.9% | 25.6% |
| Beta vs S&P 500 | 0.43 | -1.31 |
| Max drawdown (3Y) | -14.9% | -36.4% |
| Market cap | $1,078.3B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | BRK.B | VXZ |
|---|---|---|
| 2022 | +3.3% | +0.5% |
| 2023 | +15.5% | -44.0% |
| 2024 | +27.1% | -12.7% |
| 2025 | +10.9% | +5.7% |
| 2026 | +0.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRK.B and VXZ good diversifiers for each other?
Yes. With a correlation of -0.43, BRK.B and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BRK.B and VXZ?
Using weekly returns as of 2026-08-27: -0.43 over 3 years, with -0.25 over the last year and -0.46 over 5 years.
Is VXZ a good diversifier for BRK.B?
Yes. With a correlation of -0.43, BRK.B and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.43 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/brk-b-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/brk-b-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
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Hubs: BRK.B correlations · VXZ correlations
