ACV vs VXZ: Correlation
How closely do Virtus Diversified Income & Convertible Fund (ACV) and iPath Series B S&P 500 VIX Mid-Term Futures ETN (VXZ) trade together? Their weekly returns over three years give a correlation of -0.60, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACV and VXZ?
Across a 3-year window, the weekly returns of ACV and VXZ correlate at -0.60, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.46 versus -0.60 over 3 years. Stretching to 5 years gives -0.57, with an annualized covariance of -297.2 %².
Out of 17 assets tracked against ACV, VXZ lands near the bottom at #15. The last year tells two different stories: ACV led by 43.5 percentage points, +27.4% for ACV against -16.1% for VXZ.
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.
ACV vs VXZ: side by side
| ACV (Virtus Diversified Income & Convertible Fund) | VXZ (iPath Series B S&P 500 VIX Mid-Term Futures ETN) | |
|---|---|---|
| 1-year return | +27.4% | -16.1% |
| 5-year return | +45.0% | -53.1% |
| Volatility (ann.) | 19.4% | 25.6% |
| Beta vs S&P 500 | 1.02 | -1.31 |
| Max drawdown (3Y) | -23.5% | -36.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.1 | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACV | VXZ |
|---|---|---|
| 2022 | -36.0% | +0.5% |
| 2023 | +26.0% | -44.0% |
| 2024 | +15.4% | -12.7% |
| 2025 | +33.7% | +5.7% |
| 2026 | +7.0% | -10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACV and VXZ good diversifiers for each other?
Yes: at -0.60, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ACV and VXZ?
As of 2026-08-27, the correlation of weekly returns between ACV and VXZ is -0.60 over 3 years, -0.46 over 1 year and -0.57 over 5 years.
Is VXZ a good diversifier for ACV?
Yes: at -0.60, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.60 mean?
On the −1 to +1 scale, -0.60 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/acv-vs-vxz.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/acv-vs-vxz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ACV correlations · VXZ correlations
