BYD vs VXZ: Correlation
Boyd Gaming Corporation (BYD) 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 -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BYD and VXZ?
Over the past 3 years, BYD and VXZ moved with a correlation of -0.40, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.30) than the 3-year average (-0.40). Over 5 years the correlation is -0.44, and the annualized covariance of weekly returns is -254.8 %².
Out of 11 assets tracked against BYD, VXZ lands near the bottom at #10. The trailing year gives BYD the advantage: -8.0% versus -16.1%, a 8.1-point spread.
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.
BYD vs VXZ: side by side
| BYD (Boyd Gaming Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | -8.0% | -16.1% |
| 5-year return | +34.3% | -53.1% |
| Volatility (ann.) | 25.2% | 25.6% |
| Beta vs S&P 500 | 0.73 | -1.31 |
| Max drawdown (3Y) | -25.6% | -36.4% |
| Market cap | $5.8B | – |
| P/E (trailing) | 3.6 | – |
| Dividend yield | 0.94% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BYD | VXZ |
|---|---|---|
| 2022 | -15.9% | +0.5% |
| 2023 | +16.0% | -44.0% |
| 2024 | +17.1% | -12.7% |
| 2025 | +18.6% | +5.7% |
| 2026 | -6.1% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BYD and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between BYD and VXZ?
The BYD/VXZ correlation stands at -0.40 on a 3-year window (1 year: -0.30, 5 years: -0.44), computed from weekly returns as of 2026-08-27.
Is VXZ a good diversifier for BYD?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/byd-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/byd-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BYD correlations · VXZ correlations
