AVK vs VXX: Correlation
How closely do Advent Convertible and Income Fund (AVK) 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 -0.56, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVK and VXX?
On 3 years of weekly data the AVK/VXX correlation comes out at -0.56, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.68) than the 3-year average (-0.56). The 5-year figure is -0.50, and annualized covariance runs at -568.6 %².
Among the 12 assets we track against AVK, VXX sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with AVK ahead by 62.3 points (+12.6% versus -49.7%). One caveat on sizing: VXX is 3.7 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.
AVK vs VXX: side by side
| AVK (Advent Convertible and Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +12.6% | -49.7% |
| 5-year return | +28.2% | -95.6% |
| Volatility (ann.) | 16.6% | 60.9% |
| Beta vs S&P 500 | 0.83 | -3.31 |
| Max drawdown (3Y) | -17.7% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 3.8 | – |
| Dividend yield | 11.20% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVK | VXX |
|---|---|---|
| 2022 | -34.5% | -23.8% |
| 2023 | +18.1% | -72.5% |
| 2024 | +19.4% | -26.2% |
| 2025 | +19.6% | -42.2% |
| 2026 | +7.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVK and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.56 means the two rarely move for the same reasons.
FAQ
What is the correlation between AVK and VXX?
Using weekly returns as of 2026-08-27: -0.56 over 3 years, with -0.68 over the last year and -0.50 over 5 years.
Is VXX a good diversifier for AVK?
By historical standards, yes. A correlation of -0.56 means the two rarely move for the same reasons.
What does a correlation of -0.56 mean?
On the −1 to +1 scale, -0.56 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/avk-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avk-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AVK correlations · VXX correlations
