BOE vs VXX: Correlation
Blackrock Enhanced Global Dividend Trust (BOE) 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 -0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BOE and VXX?
On 3 years of weekly data the BOE/VXX correlation comes out at -0.69, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.81) than the 3-year average (-0.69). The 5-year figure is -0.63, and annualized covariance runs at -576.4 %².
Among the 27 assets we track against BOE, VXX sits near the bottom by co-movement, at rank #27. Their recent paths diverged sharply: over the last 12 months BOE outperformed by 67.4 percentage points (+17.7% for BOE against -49.7% for VXX). Risk is not evenly split, since VXX carries 4.4 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.
BOE vs VXX: side by side
| BOE (Blackrock Enhanced Global Dividend Trust) | VXX (iPath Series B S&P 500 VIX Short-Term Futures ETN) | |
|---|---|---|
| 1-year return | +17.7% | -49.7% |
| 5-year return | +46.4% | -95.6% |
| Volatility (ann.) | 13.8% | 60.9% |
| Beta vs S&P 500 | 0.79 | -3.31 |
| Max drawdown (3Y) | -14.5% | -83.3% |
| Market cap | – | – |
| P/E (trailing) | 6.8 | – |
| Dividend yield | 7.95% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BOE | VXX |
|---|---|---|
| 2022 | -15.5% | -23.8% |
| 2023 | +12.0% | -72.5% |
| 2024 | +16.8% | -26.2% |
| 2025 | +18.8% | -42.2% |
| 2026 | +12.2% | -31.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BOE and VXX good diversifiers for each other?
By historical standards, yes. A correlation of -0.69 means the two rarely move for the same reasons.
FAQ
What is the correlation between BOE and VXX?
As of 2026-08-27, the correlation of weekly returns between BOE and VXX is -0.69 over 3 years, -0.81 over 1 year and -0.63 over 5 years.
Is VXX a good diversifier for BOE?
By historical standards, yes. A correlation of -0.69 means the two rarely move for the same reasons.
What does a correlation of -0.69 mean?
A reading of -0.69 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/boe-vs-vxx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/boe-vs-vxx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BOE correlations · VXX correlations
