BIT vs VXX: Correlation
Measured on weekly returns over the past three years, BlackRock Multi-Sector Income Trust (BIT) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) carry a correlation of -0.50, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIT and VXX?
On 3 years of weekly data the BIT/VXX correlation comes out at -0.50, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.54) sits close to the 3-year figure. The 5-year figure is -0.43, and annualized covariance runs at -318.1 %².
Out of 11 assets tracked against BIT, VXX lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months BIT outperformed by 47.4 percentage points (-2.3% for BIT against -49.7% for VXX). Risk is not evenly split, since VXX carries 5.8 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.
BIT vs VXX: side by side
| BIT (BlackRock Multi-Sector Income Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | -2.3% | -49.7% |
| 5-year return | +5.8% | -95.6% |
| Volatility (ann.) | 10.5% | 60.9% |
| Beta vs S&P 500 | 0.42 | -3.31 |
| Max drawdown (3Y) | -11.6% | -83.3% |
| Market cap | $0.7B | – |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIT | VXX |
|---|---|---|
| 2022 | -14.6% | -23.8% |
| 2023 | +16.5% | -72.5% |
| 2024 | +7.2% | -26.2% |
| 2025 | -0.7% | -42.2% |
| 2026 | -1.1% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIT and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
FAQ
What is the correlation between BIT and VXX?
Using weekly returns as of 2026-08-27: -0.50 over 3 years, with -0.54 over the last year and -0.43 over 5 years.
Is VXX a good diversifier for BIT?
By historical standards, yes. A correlation of -0.50 means the two rarely move for the same reasons.
What does a correlation of -0.50 mean?
On the −1 to +1 scale, -0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bit-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bit-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BIT correlations · VXX correlations
