BZH vs VXZ: Correlation
Measured on weekly returns over the past three years, Beazer Homes USA, Inc. (BZH) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) carry a correlation of -0.43, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BZH and VXZ?
On 3 years of weekly data the BZH/VXZ correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.40 over 1 year against -0.43 over 3. The 5-year figure is -0.44, and annualized covariance runs at -528.6 %².
VXZ is close to the least connected end of BZH's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with BZH ahead by 46.9 points (+30.8% versus -16.1%). Risk is not evenly split, since BZH carries 1.9 times the volatility of the other side.
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.
BZH vs VXZ: side by side
| BZH (Beazer Homes USA, Inc.) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +30.8% | -16.1% |
| 5-year return | +78.6% | -53.1% |
| Volatility (ann.) | 48.3% | 25.6% |
| Beta vs S&P 500 | 1.27 | -1.31 |
| Max drawdown (3Y) | -49.8% | -36.4% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BZH | VXZ |
|---|---|---|
| 2022 | -45.0% | +0.5% |
| 2023 | +164.8% | -44.0% |
| 2024 | -18.7% | -12.7% |
| 2025 | -26.2% | +5.7% |
| 2026 | +63.9% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BZH and VXZ good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between BZH and VXZ?
As of 2026-08-27, the correlation of weekly returns between BZH and VXZ is -0.43 over 3 years, -0.40 over 1 year and -0.44 over 5 years.
Is VXZ a good diversifier for BZH?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 mean?
A reading of -0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bzh-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bzh-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BZH correlations · VXZ correlations
