BGX vs VXX: Correlation
Blackstone Long Short Credit Income Fund (BGX) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) show a negative relationship: their 3-year correlation of weekly returns is -0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BGX and VXX?
Across a 3-year window, the weekly returns of BGX and VXX correlate at -0.55, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.64 over 1 year against -0.55 over 3. Stretching to 5 years gives -0.47, with an annualized covariance of -332.8 %².
VXX is close to the least connected end of BGX's tracked universe, ranking #14 of 14. The last year tells two different stories: BGX led by 43.1 percentage points, -6.6% for BGX against -49.7% for VXX. One caveat on sizing: VXX is 6.1 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.
BGX vs VXX: side by side
| BGX (Blackstone Long Short Credit Income Fund) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -6.6% | -49.7% |
| 5-year return | +15.1% | -95.6% |
| Volatility (ann.) | 10.0% | 60.9% |
| Beta vs S&P 500 | 0.39 | -3.31 |
| Max drawdown (3Y) | -14.1% | -83.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 15.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BGX | VXX |
|---|---|---|
| 2022 | -20.6% | -23.8% |
| 2023 | +18.9% | -72.5% |
| 2024 | +19.8% | -26.2% |
| 2025 | +2.1% | -42.2% |
| 2026 | -3.3% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BGX and VXX good diversifiers for each other?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BGX and VXX?
As of 2026-08-27, the correlation of weekly returns between BGX and VXX is -0.55 over 3 years, -0.64 over 1 year and -0.47 over 5 years.
Is VXX a good diversifier for BGX?
Yes: at -0.55, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.55 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/bgx-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bgx-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BGX correlations · VXX correlations
