BWMX vs VXZ: Correlation
Measured on weekly returns over the past three years, Betterware de Mexico, S.A.P.I. de C.V. (BWMX) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWMX and VXZ?
On 3 years of weekly data the BWMX/VXZ correlation comes out at -0.29, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.12) than the 3-year average (-0.29). The 5-year figure is -0.25, and annualized covariance runs at -343.0 %².
Out of 10 assets tracked against BWMX, VXZ lands near the bottom at #9. The last year tells two different stories: BWMX led by 41.7 percentage points, +25.6% for BWMX against -16.1% for VXZ. Risk is not evenly split, since BWMX carries 1.8 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.
BWMX vs VXZ: side by side
| BWMX (Betterware de Mexico, S.A.P.I. de C.V.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +25.6% | -16.1% |
| 5-year return | -40.9% | -53.1% |
| Volatility (ann.) | 45.7% | 25.6% |
| Beta vs S&P 500 | 0.88 | -1.31 |
| Max drawdown (3Y) | -57.5% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | 6.1 | – |
| Dividend yield | 66.63% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWMX | VXZ |
|---|---|---|
| 2022 | -66.1% | +0.5% |
| 2023 | +133.9% | -44.0% |
| 2024 | -12.0% | -12.7% |
| 2025 | +37.3% | +5.7% |
| 2026 | +18.7% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWMX and VXZ good diversifiers for each other?
Yes. With a correlation of -0.29, BWMX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BWMX and VXZ?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.12 over the last year and -0.25 over 5 years.
Is VXZ a good diversifier for BWMX?
Yes. With a correlation of -0.29, BWMX and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.29 mean?
A reading of -0.29 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/bwmx-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwmx-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BWMX correlations · VXZ correlations
