BVS vs VXX: Correlation
How closely do Bioventus Inc. (BVS) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BVS and VXX?
Over the past 3 years, BVS and VXX moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.14) runs above the 3-year figure (-0.30). Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -970.1 %².
VXX is close to the least connected end of BVS's tracked universe, ranking #10 of 11. The last year tells two different stories: BVS led by 133.8 percentage points, +84.1% for BVS against -49.7% for VXX.
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.
BVS vs VXX: side by side
| BVS (Bioventus Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +84.1% | -49.7% |
| 5-year return | -6.2% | -95.6% |
| Volatility (ann.) | 52.7% | 60.9% |
| Beta vs S&P 500 | 0.89 | -3.31 |
| Max drawdown (3Y) | -55.2% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | 17.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BVS | VXX |
|---|---|---|
| 2022 | -82.0% | -23.8% |
| 2023 | +101.9% | -72.5% |
| 2024 | +99.2% | -26.2% |
| 2025 | -29.1% | -42.2% |
| 2026 | +85.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BVS and VXX good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BVS and VXX?
As of 2026-08-27, the correlation of weekly returns between BVS and VXX is -0.30 over 3 years, -0.14 over 1 year and -0.22 over 5 years.
Is VXX a good diversifier for BVS?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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/bvs-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bvs-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BVS correlations · VXX correlations
