BXP vs VXZ: Correlation
Measured on weekly returns over the past three years, BXP, Inc. (BXP) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.49, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXP and VXZ?
Across a 3-year window, the weekly returns of BXP and VXZ correlate at -0.49, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.51 over 1 year against -0.49 over 3. Stretching to 5 years gives -0.51, with an annualized covariance of -416.6 %².
VXZ is close to the least connected end of BXP's tracked universe, ranking #45 of 45. Correlation aside, the last 12 months split them widely, with BXP ahead by 19.0 points (+2.9% versus -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.
BXP vs VXZ: side by side
| BXP (BXP, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +2.9% | -16.1% |
| 5-year return | -18.9% | -53.1% |
| Volatility (ann.) | 33.1% | 25.6% |
| Beta vs S&P 500 | 1.02 | -1.31 |
| Max drawdown (3Y) | -39.0% | -36.4% |
| Market cap | $12.7B | – |
| P/E (trailing) | 37.8 | – |
| Dividend yield | 3.98% | – |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | BXP | VXZ |
|---|---|---|
| 2022 | -38.6% | +0.5% |
| 2023 | +11.0% | -44.0% |
| 2024 | +12.3% | -12.7% |
| 2025 | -4.7% | +5.7% |
| 2026 | +6.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXP and VXZ good diversifiers for each other?
Yes. With a correlation of -0.49, BXP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BXP and VXZ?
The BXP/VXZ correlation stands at -0.49 on a 3-year window (1 year: -0.51, 5 years: -0.51), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BXP?
Yes. With a correlation of -0.49, BXP and VXZ have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.49 mean?
On the −1 to +1 scale, -0.49 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/bxp-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxp-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BXP correlations · VXZ correlations
