BCV vs VXX: Correlation
How closely do Bancroft Fund, Ltd. (BCV) 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 -0.46, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BCV and VXX?
Across a 3-year window, the weekly returns of BCV and VXX correlate at -0.46, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.38 lands near the 3-year figure. Stretching to 5 years gives -0.45, with an annualized covariance of -489.0 %².
Among the 20 assets we track against BCV, VXX sits near the bottom by co-movement, at rank #20. Correlation aside, the last 12 months split them widely, with BCV ahead by 78.0 points (+28.3% versus -49.7%). One caveat on sizing: VXX is 3.5 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.
BCV vs VXX: side by side
| BCV (Bancroft Fund, Ltd.) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +28.3% | -49.7% |
| 5-year return | +22.7% | -95.6% |
| Volatility (ann.) | 17.6% | 60.9% |
| Beta vs S&P 500 | 0.68 | -3.31 |
| Max drawdown (3Y) | -14.6% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 3.7 | – |
| Dividend yield | 5.42% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BCV | VXX |
|---|---|---|
| 2022 | -33.7% | -23.8% |
| 2023 | +5.6% | -72.5% |
| 2024 | +19.8% | -26.2% |
| 2025 | +33.4% | -42.2% |
| 2026 | +16.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BCV and VXX good diversifiers for each other?
Yes. With a correlation of -0.46, BCV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BCV and VXX?
Using weekly returns as of 2026-08-27: -0.46 over 3 years, with -0.38 over the last year and -0.45 over 5 years.
Is VXX a good diversifier for BCV?
Yes. With a correlation of -0.46, BCV and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.46 mean?
A reading of -0.46 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/bcv-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bcv-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BCV correlations · VXX correlations
