BWB vs VXX: Correlation
Bridgewater Bancshares, Inc. (BWB) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWB and VXX?
Over the past 3 years, BWB and VXX moved with a correlation of -0.52, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.29) runs above the 3-year figure (-0.52). Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -974.6 %².
VXX is close to the least connected end of BWB's tracked universe, ranking #12 of 13. The last year tells two different stories: BWB led by 79.3 percentage points, +29.6% for BWB against -49.7% for VXX. Risk is not evenly split, since VXX carries 2.0 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.
BWB vs VXX: side by side
| BWB (Bridgewater Bancshares, Inc.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +29.6% | -49.7% |
| 5-year return | +31.0% | -95.6% |
| Volatility (ann.) | 30.6% | 60.9% |
| Beta vs S&P 500 | 1.00 | -3.31 |
| Max drawdown (3Y) | -22.2% | -83.3% |
| Market cap | $0.6B | – |
| P/E (trailing) | 11.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWB | VXX |
|---|---|---|
| 2022 | +0.3% | -23.8% |
| 2023 | -23.8% | -72.5% |
| 2024 | -0.1% | -26.2% |
| 2025 | +29.8% | -42.2% |
| 2026 | +21.6% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWB and VXX good diversifiers for each other?
Yes. With a correlation of -0.52, BWB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BWB and VXX?
As of 2026-08-27, the correlation of weekly returns between BWB and VXX is -0.52 over 3 years, -0.29 over 1 year and -0.44 over 5 years.
Is VXX a good diversifier for BWB?
Yes. With a correlation of -0.52, BWB and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.52 mean?
A reading of -0.52 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/bwb-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwb-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BWB correlations · VXX correlations
