BTBT vs VXZ: Correlation
Bit Digital, Inc. (BTBT) 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 -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTBT and VXZ?
Over the past 3 years, BTBT and VXZ moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Over 5 years the correlation is -0.34, and the annualized covariance of weekly returns is -663.0 %².
VXZ is close to the least connected end of BTBT's tracked universe, ranking #22 of 24. The last year tells two different stories: VXZ led by 25.9 percentage points, -42.0% for BTBT against -16.1% for VXZ. One caveat on sizing: BTBT is 3.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BTBT vs VXZ: side by side
| BTBT (Bit Digital, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -42.0% | -16.1% |
| 5-year return | -87.6% | -53.1% |
| Volatility (ann.) | 85.4% | 25.6% |
| Beta vs S&P 500 | 2.24 | -1.31 |
| Max drawdown (3Y) | -78.1% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTBT | VXZ |
|---|---|---|
| 2022 | -90.1% | +0.5% |
| 2023 | +605.0% | -44.0% |
| 2024 | -30.7% | -12.7% |
| 2025 | -35.5% | +5.7% |
| 2026 | -15.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTBT and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between BTBT and VXZ?
As of 2026-08-27, the correlation of weekly returns between BTBT and VXZ is -0.30 over 3 years, -0.32 over 1 year and -0.34 over 5 years.
Is VXZ a good diversifier for BTBT?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/btbt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btbt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTBT correlations · VXZ correlations
