BDJ vs VXX: Correlation
How closely do Blackrock Enhanced Equity Dividend Trust (BDJ) 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 -0.62, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BDJ and VXX?
Over the past 3 years, BDJ and VXX moved with a correlation of -0.62, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.69) sits close to the 3-year figure. Over 5 years the correlation is -0.58, and the annualized covariance of weekly returns is -570.9 %².
Among the 16 assets we track against BDJ, VXX sits near the bottom by co-movement, at rank #16. Their recent paths diverged sharply: over the last 12 months BDJ outperformed by 68.7 percentage points (+19.0% for BDJ against -49.7% for VXX). Risk is not evenly split, since VXX carries 4.0 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.
BDJ vs VXX: side by side
| BDJ (Blackrock Enhanced Equity Dividend Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +19.0% | -49.7% |
| 5-year return | +53.5% | -95.6% |
| Volatility (ann.) | 15.1% | 60.9% |
| Beta vs S&P 500 | 0.72 | -3.31 |
| Max drawdown (3Y) | -14.4% | -83.3% |
| Market cap | $1.7B | – |
| P/E (trailing) | 6.2 | – |
| Dividend yield | 7.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BDJ | VXX |
|---|---|---|
| 2022 | -1.7% | -23.8% |
| 2023 | -6.7% | -72.5% |
| 2024 | +16.8% | -26.2% |
| 2025 | +26.1% | -42.2% |
| 2026 | +8.9% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BDJ and VXX good diversifiers for each other?
Yes. With a correlation of -0.62, BDJ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BDJ and VXX?
As of 2026-08-27, the correlation of weekly returns between BDJ and VXX is -0.62 over 3 years, -0.69 over 1 year and -0.58 over 5 years.
Is VXX a good diversifier for BDJ?
Yes. With a correlation of -0.62, BDJ and VXX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.62 mean?
A reading of -0.62 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/bdj-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bdj-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BDJ correlations · VXX correlations
