AWF vs VXX: Correlation
How closely do Alliancebernstein Global High Income Fund (AWF) 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 -0.61, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWF and VXX?
Across a 3-year window, the weekly returns of AWF and VXX correlate at -0.61, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.66) sits close to the 3-year figure. Stretching to 5 years gives -0.50, with an annualized covariance of -358.0 %².
Out of 18 assets tracked against AWF, VXX lands near the bottom at #18. Their recent paths diverged sharply: over the last 12 months AWF outperformed by 47.1 percentage points (-2.6% for AWF against -49.7% for VXX). Risk is not evenly split, since VXX carries 6.3 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.
AWF vs VXX: side by side
| AWF (Alliancebernstein Global High Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.6% | -49.7% |
| 5-year return | +21.4% | -95.6% |
| Volatility (ann.) | 9.7% | 60.9% |
| Beta vs S&P 500 | 0.42 | -3.31 |
| Max drawdown (3Y) | -11.1% | -83.3% |
| Market cap | $0.9B | – |
| P/E (trailing) | 13.6 | – |
| Dividend yield | 7.26% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AWF | VXX |
|---|---|---|
| 2022 | -16.6% | -23.8% |
| 2023 | +18.4% | -72.5% |
| 2024 | +14.4% | -26.2% |
| 2025 | +7.6% | -42.2% |
| 2026 | -0.0% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWF and VXX good diversifiers for each other?
Yes. With a correlation of -0.61, AWF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AWF and VXX?
The AWF/VXX correlation stands at -0.61 on a 3-year window (1 year: -0.66, 5 years: -0.50), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for AWF?
Yes. With a correlation of -0.61, AWF and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.61 mean?
A reading of -0.61 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/awf-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/awf-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AWF correlations · VXX correlations
