BXSL vs VXZ: Correlation
Measured on weekly returns over the past three years, Blackstone Secured Lending Fund (BXSL) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BXSL and VXZ?
Over the past 3 years, BXSL and VXZ moved with a correlation of -0.45, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. Over 5 years the correlation is -0.36, and the annualized covariance of weekly returns is -199.4 %².
Among the 11 assets we track against BXSL, VXZ sits near the bottom by co-movement, at rank #11. Over the last 12 months BXSL came out ahead by 9.8 percentage points (-6.3% 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.
BXSL vs VXZ: side by side
| BXSL (Blackstone Secured Lending Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.3% | -16.1% |
| 5-year return | +49.3% | -53.1% |
| Volatility (ann.) | 17.4% | 25.6% |
| Beta vs S&P 500 | 0.45 | -1.31 |
| Max drawdown (3Y) | -24.2% | -36.4% |
| Market cap | $5.8B | – |
| P/E (trailing) | 19.6 | – |
| Dividend yield | 12.35% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BXSL | VXZ |
|---|---|---|
| 2022 | -26.0% | +0.5% |
| 2023 | +37.8% | -44.0% |
| 2024 | +29.0% | -12.7% |
| 2025 | -9.4% | +5.7% |
| 2026 | +0.2% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BXSL and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between BXSL and VXZ?
The BXSL/VXZ correlation stands at -0.45 on a 3-year window (1 year: -0.38, 5 years: -0.36), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BXSL?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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/bxsl-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bxsl-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BXSL correlations · VXZ correlations
