BYFC vs VXZ: Correlation
Measured on weekly returns over the past three years, Broadway Financial Corporation (BYFC) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BYFC and VXZ?
Over the past 3 years, BYFC and VXZ moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.21). Over 5 years the correlation is -0.25, and the annualized covariance of weekly returns is -255.6 %².
VXZ is close to the least connected end of BYFC's tracked universe, ranking #10 of 12. Their recent paths diverged sharply: over the last 12 months BYFC outperformed by 70.9 percentage points (+54.8% for BYFC against -16.1% for VXZ). One caveat on sizing: BYFC is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BYFC vs VXZ: side by side
| BYFC (Broadway Financial Corporation) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +54.8% | -16.1% |
| 5-year return | -59.2% | -53.1% |
| Volatility (ann.) | 47.2% | 25.6% |
| Beta vs S&P 500 | 0.86 | -1.31 |
| Max drawdown (3Y) | -43.5% | -36.4% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BYFC | VXZ |
|---|---|---|
| 2022 | -56.3% | +0.5% |
| 2023 | -16.0% | -44.0% |
| 2024 | +0.9% | -12.7% |
| 2025 | +8.0% | +5.7% |
| 2026 | +62.8% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BYFC and VXZ good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BYFC and VXZ?
As of 2026-08-27, the correlation of weekly returns between BYFC and VXZ is -0.21 over 3 years, -0.10 over 1 year and -0.25 over 5 years.
Is VXZ a good diversifier for BYFC?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/byfc-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/byfc-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BYFC correlations · VXZ correlations
