BSX vs VXZ: Correlation
Measured on weekly returns over the past three years, Boston Scientific (BSX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.32, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSX and VXZ?
Over the past 3 years, BSX and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.32). Over 5 years the correlation is -0.39, and the annualized covariance of weekly returns is -223.2 %².
Among the 33 assets we track against BSX, VXZ sits near the bottom by co-movement, at rank #31. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 39.8 percentage points (-55.9% for BSX against -16.1% for VXZ).
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.
BSX vs VXZ: side by side
| BSX (Boston Scientific) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -55.9% | -16.1% |
| 5-year return | +4.1% | -53.1% |
| Volatility (ann.) | 27.6% | 25.6% |
| Beta vs S&P 500 | 0.72 | -1.31 |
| Max drawdown (3Y) | -60.6% | -36.4% |
| Market cap | $67.6B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 0.00% | – |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BSX | VXZ |
|---|---|---|
| 2022 | +8.9% | +0.5% |
| 2023 | +24.9% | -44.0% |
| 2024 | +54.5% | -12.7% |
| 2025 | +6.8% | +5.7% |
| 2026 | -51.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, BSX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BSX and VXZ?
As of 2026-08-27, the correlation of weekly returns between BSX and VXZ is -0.32 over 3 years, -0.03 over 1 year and -0.39 over 5 years.
Is VXZ a good diversifier for BSX?
Yes. With a correlation of -0.32, BSX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/bsx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bsx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BSX correlations · VXZ correlations
