BSRR vs VXZ: Correlation
How closely do Sierra Bancorp (BSRR) 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 -0.48, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSRR and VXZ?
On 3 years of weekly data the BSRR/VXZ correlation comes out at -0.48, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.33) runs above the 3-year figure (-0.48). The 5-year figure is -0.44, and annualized covariance runs at -390.1 %².
Out of 14 assets tracked against BSRR, VXZ lands near the bottom at #14. Correlation aside, the last 12 months split them widely, with BSRR ahead by 48.7 points (+32.6% 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.
BSRR vs VXZ: side by side
| BSRR (Sierra Bancorp) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +32.6% | -16.1% |
| 5-year return | +91.2% | -53.1% |
| Volatility (ann.) | 31.7% | 25.6% |
| Beta vs S&P 500 | 0.83 | -1.31 |
| Max drawdown (3Y) | -29.1% | -36.4% |
| Market cap | $0.5B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 2.63% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSRR | VXZ |
|---|---|---|
| 2022 | -18.6% | +0.5% |
| 2023 | +11.5% | -44.0% |
| 2024 | +33.3% | -12.7% |
| 2025 | +17.0% | +5.7% |
| 2026 | +24.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSRR and VXZ good diversifiers for each other?
Yes. With a correlation of -0.48, BSRR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BSRR and VXZ?
As of 2026-08-27, the correlation of weekly returns between BSRR and VXZ is -0.48 over 3 years, -0.33 over 1 year and -0.44 over 5 years.
Is VXZ a good diversifier for BSRR?
Yes. With a correlation of -0.48, BSRR and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.48 mean?
On the −1 to +1 scale, -0.48 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/bsrr-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bsrr-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BSRR correlations · VXZ correlations
