BVFL vs VXZ: Correlation
Measured on weekly returns over the past three years, BV Financial, Inc. (BVFL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BVFL and VXZ?
On 3 years of weekly data the BVFL/VXZ correlation comes out at -0.34, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. The 5-year figure is -0.23, and annualized covariance runs at -206.8 %².
VXZ is close to the least connected end of BVFL's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with BVFL ahead by 43.6 points (+27.5% 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.
BVFL vs VXZ: side by side
| BVFL (BV Financial, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +27.5% | -16.1% |
| 5-year return | +55.7% | -53.1% |
| Volatility (ann.) | 23.9% | 25.6% |
| Beta vs S&P 500 | 0.49 | -1.31 |
| Max drawdown (3Y) | -30.9% | -36.4% |
| Market cap | $0.2B | – |
| P/E (trailing) | 14.3 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BVFL | VXZ |
|---|---|---|
| 2022 | +24.4% | +0.5% |
| 2023 | -13.2% | -44.0% |
| 2024 | +21.4% | -12.7% |
| 2025 | +5.3% | +5.7% |
| 2026 | +17.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BVFL and VXZ good diversifiers for each other?
Yes. With a correlation of -0.34, BVFL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BVFL and VXZ?
As of 2026-08-27, the correlation of weekly returns between BVFL and VXZ is -0.34 over 3 years, -0.28 over 1 year and -0.23 over 5 years.
Is VXZ a good diversifier for BVFL?
Yes. With a correlation of -0.34, BVFL and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bvfl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bvfl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BVFL correlations · VXZ correlations
