BURL vs VXZ: Correlation
How closely do Burlington Stores, Inc. (BURL) 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 -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BURL and VXZ?
On 3 years of weekly data the BURL/VXZ correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.16) runs above the 3-year figure (-0.27). The 5-year figure is -0.25, and annualized covariance runs at -270.7 %².
Among the 14 assets we track against BURL, VXZ sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with BURL ahead by 19.6 points (+3.5% versus -16.1%). Note the risk asymmetry: BURL runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BURL vs VXZ: side by side
| BURL (Burlington Stores, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +3.5% | -16.1% |
| 5-year return | -3.9% | -53.1% |
| Volatility (ann.) | 38.7% | 25.6% |
| Beta vs S&P 500 | 0.87 | -1.31 |
| Max drawdown (3Y) | -28.4% | -36.4% |
| Market cap | $18.3B | – |
| P/E (trailing) | 32.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BURL | VXZ |
|---|---|---|
| 2022 | -30.4% | +0.5% |
| 2023 | -4.1% | -44.0% |
| 2024 | +46.6% | -12.7% |
| 2025 | +1.3% | +5.7% |
| 2026 | +0.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BURL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.27, BURL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BURL and VXZ?
The BURL/VXZ correlation stands at -0.27 on a 3-year window (1 year: 0.16, 5 years: -0.25), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BURL?
Yes. With a correlation of -0.27, BURL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
A reading of -0.27 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/burl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/burl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BURL correlations · VXZ correlations
