BTOC vs VXZ: Correlation
Armlogi Holding Corp. (BTOC) 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 -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTOC and VXZ?
On 3 years of weekly data the BTOC/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.38) runs below the 3-year figure (-0.26). The 5-year figure is n/a, and annualized covariance runs at -547.0 %².
Among the 10 assets we track against BTOC, VXZ sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months VXZ outperformed by 63.6 percentage points (-79.7% for BTOC against -16.1% for VXZ). Risk is not evenly split, since BTOC carries 3.3 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.
BTOC vs VXZ: side by side
| BTOC (Armlogi Holding Corp.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -79.7% | -16.1% |
| 5-year return | n/a | -53.1% |
| Volatility (ann.) | 83.6% | 25.6% |
| Beta vs S&P 500 | 1.75 | -1.31 |
| Max drawdown (3Y) | -97.1% | -36.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTOC | VXZ |
|---|---|---|
| 2022 | – | +0.5% |
| 2023 | – | -44.0% |
| 2024 | – | -12.7% |
| 2025 | -87.5% | +5.7% |
| 2026 | -44.6% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTOC and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BTOC and VXZ?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.38 over the last year and n/a over 5 years.
Is VXZ a good diversifier for BTOC?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/btoc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/btoc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BTOC correlations · VXZ correlations
