BXC vs VXZ: Correlation
Bluelinx Holdings Inc. (BXC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) show a negative relationship: their 3-year correlation of weekly returns is -0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXC and VXZ?
Over the past 3 years, BXC and VXZ moved with a correlation of -0.32, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.32 over 3. Over 5 years the correlation is -0.31, and the annualized covariance of weekly returns is -521.2 %².
Among the 33 assets we track against BXC, VXZ sits near the bottom by co-movement, at rank #33. The trailing year gives BXC the advantage: -2.6% versus -16.1%, a 13.5-point spread. Note the risk asymmetry: BXC runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BXC vs VXZ: side by side
| BXC (Bluelinx Holdings Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.6% | -16.1% |
| 5-year return | +33.6% | -53.1% |
| Volatility (ann.) | 62.7% | 25.6% |
| Beta vs S&P 500 | 1.54 | -1.31 |
| Max drawdown (3Y) | -65.6% | -36.4% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXC | VXZ |
|---|---|---|
| 2022 | -25.7% | +0.5% |
| 2023 | +59.3% | -44.0% |
| 2024 | -9.8% | -12.7% |
| 2025 | -39.9% | +5.7% |
| 2026 | +29.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXC and VXZ good diversifiers for each other?
Yes. With a correlation of -0.32, BXC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BXC and VXZ?
Using weekly returns as of 2026-08-27: -0.32 over 3 years, with -0.24 over the last year and -0.31 over 5 years.
Is VXZ a good diversifier for BXC?
Yes. With a correlation of -0.32, BXC and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bxc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxc-vs-vxz/)
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Related comparisons
Hubs: BXC correlations · VXZ correlations
