AGNC vs VXX: Correlation
How closely do AGNC Investment Corp. (AGNC) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) trade together? Their weekly returns over three years give a correlation of -0.44, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGNC and VXX?
On 3 years of weekly data the AGNC/VXX correlation comes out at -0.44, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.43 over 1 year against -0.44 over 3. The 5-year figure is -0.42, and annualized covariance runs at -673.8 %².
Out of 14 assets tracked against AGNC, VXX lands near the bottom at #13. Correlation aside, the last 12 months split them widely, with AGNC ahead by 77.7 points (+28.0% versus -49.7%). Note the risk asymmetry: VXX runs 2.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AGNC vs VXX: side by side
| AGNC (AGNC Investment Corp.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.0% | -49.7% |
| 5-year return | +33.5% | -95.6% |
| Volatility (ann.) | 25.1% | 60.9% |
| Beta vs S&P 500 | 0.87 | -3.31 |
| Max drawdown (3Y) | -30.5% | -83.3% |
| Market cap | $13.0B | – |
| P/E (trailing) | 5.4 | – |
| Dividend yield | 13.32% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGNC | VXX |
|---|---|---|
| 2022 | -21.7% | -23.8% |
| 2023 | +10.1% | -72.5% |
| 2024 | +8.9% | -26.2% |
| 2025 | +34.9% | -42.2% |
| 2026 | +10.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGNC and VXX good diversifiers for each other?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGNC and VXX?
The AGNC/VXX correlation stands at -0.44 on a 3-year window (1 year: -0.43, 5 years: -0.42), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AGNC?
Yes: at -0.44, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.44 mean?
On the −1 to +1 scale, -0.44 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/agnc-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agnc-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGNC correlations · VXX correlations
