BWXT vs VXZ: Correlation
How closely do BWX Technologies, Inc. (BWXT) 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 -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWXT and VXZ?
On 3 years of weekly data the BWXT/VXZ correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. The 5-year figure is -0.26, and annualized covariance runs at -227.0 %².
VXZ is close to the least connected end of BWXT's tracked universe, ranking #8 of 10. Over the last 12 months BWXT came out ahead by 10.8 percentage points (-5.3% against -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.
BWXT vs VXZ: side by side
| BWXT (BWX Technologies, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -5.3% | -16.1% |
| 5-year return | +188.9% | -53.1% |
| Volatility (ann.) | 33.5% | 25.6% |
| Beta vs S&P 500 | 1.01 | -1.31 |
| Max drawdown (3Y) | -37.1% | -36.4% |
| Market cap | $14.3B | – |
| P/E (trailing) | 39.7 | – |
| Dividend yield | 0.68% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWXT | VXZ |
|---|---|---|
| 2022 | +23.3% | +0.5% |
| 2023 | +33.9% | -44.0% |
| 2024 | +46.5% | -12.7% |
| 2025 | +56.4% | +5.7% |
| 2026 | -9.4% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWXT and VXZ good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BWXT and VXZ?
As of 2026-08-27, the correlation of weekly returns between BWXT and VXZ is -0.26 over 3 years, -0.29 over 1 year and -0.26 over 5 years.
Is VXZ a good diversifier for BWXT?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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/bwxt-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwxt-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BWXT correlations · VXZ correlations
