BBN vs VXX: Correlation
Measured on weekly returns over the past three years, BlackRock Taxable Municipal Bond Trust (BBN) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBN and VXX?
Over the past 3 years, BBN and VXX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.28 lands near the 3-year figure. Over 5 years the correlation is -0.18, and the annualized covariance of weekly returns is -172.8 %².
Out of 18 assets tracked against BBN, VXX lands near the bottom at #16. Their recent paths diverged sharply: over the last 12 months BBN outperformed by 54.1 percentage points (+4.4% for BBN against -49.7% for VXX). One caveat on sizing: VXX is 5.0 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.
BBN vs VXX: side by side
| BBN (BlackRock Taxable Municipal Bond Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +4.4% | -49.7% |
| 5-year return | -14.4% | -95.6% |
| Volatility (ann.) | 12.3% | 60.9% |
| Beta vs S&P 500 | 0.26 | -3.31 |
| Max drawdown (3Y) | -11.8% | -83.3% |
| Market cap | $1.0B | – |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBN | VXX |
|---|---|---|
| 2022 | -31.0% | -23.8% |
| 2023 | +3.6% | -72.5% |
| 2024 | +6.0% | -26.2% |
| 2025 | +8.6% | -42.2% |
| 2026 | +2.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBN and VXX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BBN and VXX?
The BBN/VXX correlation stands at -0.23 on a 3-year window (1 year: -0.28, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is VXX a good diversifier for BBN?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbn-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bbn-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BBN correlations · VXX correlations
